The Treasury has been drawn into the debate over how to tame the multi-billion-shilling bond theft at the Central Bank of Kenya in the wake of the scandal involving the sale of fake government securities. Regulator CMA yesterday demanded the role of creating and primary issuance of bonds be transferred from the CBK to the Treasury. Chairman Kung'u Gatabaki said such a move would also remove the risk of conflict of interest that the CBK currently faces being in charge of the country's monetary policy while at the same time raising funds on behalf of the Treasury.
The Star (Nairobi)
Kenya: CMA Wants Central Bank Out of Bonds MarketBy Marybeth Wambugu, 3 September 2013
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