Licensed forex bureaus in kenya
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The name should incorporate the words “Forex. Bureau”, “Foreign Exchange Bureau” or “Bureau de Change”. b. After the name has been approved by the Central. Central Bank of Kenya. Haile Selassie Avenue P.O Box - Nairobi, Kenya + 20 + 20 + 20 +
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A member of the Kenya Bureau Association. Its focus in seeing that foreign exchange needs are met, has seen Nairobi Bureau De Change earn a reputation for honesty, integrity, reliability, competitiveness and excellence in customer service over the years.
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Also there's Western union which has also been the key player in international person-to-person money transfer, money orders, business payments and commercial mailing services in the world. US Dollar is the standard currency of money transfer using Western Union. Western Union Kenya contacts are :. How to invest in M-Akiba.
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BANKING LAW IN KENYA , FOREIGN EXCHANGE BUREAUS AND EMERGING ISSUES
The advancement in the technology and online Business transaction have led to the birth of online Forex Bureaus. Online Forex brokers are giving other Forex a run for their money since their exchange rates are much lower as compared to the physical ones. Online Forex are taking advantage of the expansive internet connectivity in the world and desperation for employment among the young people, who are willing to risk to gain.
They do not follow bureaucracies set by the Central Bank. They make their money simply through predicting what the rates of exchange will be at a particular time, between their base currencies and quote currency. They are not common in Africa, as some people have termed the business illegal, but there are measures being put in place to incorporate the online Forex trade in the formal Forex exchange market.
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Online Forex brokers are giving other Forex a run for their money since their exchange rates are much lower as compared to the physical ones. Retrieve your password Please enter your username or email address to reset your password. Fill the forms below to register. To learn more, view our Privacy Policy. Valentine Wakoko. And in the case of trading currency pairs between any two hard currencies, it should be capped at 20 times of his deposit amount.
Read also Kenya treasury bills interest rates. Read also Listed stock brokers in Kenya.