ADVOKS GLOBAL · KENYA
Central Bank of Kenya Act
33B. Licensing of authorized dealers
Edition: 2026-07-24 · In force
33B. Licensing of authorized dealers
(1)A person proposing to transact foreign exchange business shall, before commencing such business, apply to the Bank for a licence.(2)An application under this section shall be made in the prescribed form and shall be forwarded to the Bank together with the prescribed fee.(3)In considering an application for a licence, the Bank may require to be satisfied as to the financial condition and history of the applicant, the character of its management, the adequacy of its capital structure and the convenience and needs of the area to be served and the public interest which will be served by granting of the licence.(4)The Bank may, subject to the payment of the prescribed fee and to such conditions as it may consider necessary, grant a licence to the applicant.(5)Where a licence has been granted under this section, the Bank may add, vary, or substitute any conditions attached thereto.(6)A licence issued under this section shall, unless earlier revoked, expire on the 31st December next following the date of issue:Provided that where an application for renewal is made under section 33C, the licence shall be deemed to continue in force until the application for renewal is determined.