Kenya: JP Morgan Chase to Open Operations in Kenya

Nairobi — The Central Bank of Kenya has announced that it welcomes the enthusiastic interest shown by international financial institutions in Kenya.

In a press statement released by the bank early in the week, the the Central Bank of Kenya highlighted that several institutions have outlined plans to set up, or expand, operations in Kenya, also as a natural hub for serving the African continent.

The Bank said this week, Mr. Jamie Dimon, Chairman and CEO of the largest American bank JP Morgan Chase, announced at the World Economic Forum in Davos, Switzerland, that his bank intends to open operations in Kenya. This would restart and re-calibrate a process that JP Morgan Chase halted in October 2015.

Kenya's central bank said at that time an application to open a Representative Office was being processed. CBK welcomes this interest, confirming Kenya's growing stature as a premier regional financial hub.

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