This draft to repeal the Central Bank of Kenya Act, provides a clear formulation and implementation of monetary policy. It looks to promote price stability and issuance of currency, as provided under Article 231 of the Constitution. It implements regulations for aspects of the Central Bank including: capital reserves, profit allocation, the Board of Directors, governance and accountability mechanisms. Lastly, Bank's external relations, international matters, relations with banks and public entities and foreign exchange dealings are regulated.
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