Kenya: CBK’s DhowCSD Platform Wins Global Recognition

CBK's DhowCSD Platform Wins Global Recognition
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Central Bank of Kenya’s (CBK’s) DhowCSD platform has clinched the prestigious Central Banking’s Payments and Market Infrastructure Initiative Award, marking a significant milestone in Kenya’s financial market evolution.

Launched on July 31, 2023, and officially inaugurated by President William Ruto on September 11, 2023, the DhowCSD platform has revolutionized the accessibility and operability of Central Securities Depository (CSD) accounts for individual investors. This innovative platform enables investors to seamlessly open and manage CSD accounts from their devices, eliminating the need for physical visits to the CBK.

Since its introduction, DhowCSD has witnessed a remarkable 63 percent increase in the number of investors, underscoring its widespread adoption and impact on the financial landscape.

CBK Governor Dr. Kamau Thugge hailed this achievement as the culmination of a transformative journey towards developing a dynamic and inclusive financial market infrastructure. He emphasized DhowCSD’s pivotal role in facilitating the trading of Kenya Government securities both locally and internationally, thereby enhancing Kenya’s integration with global financial markets.

Judges of the award acknowledged CBK’s commitment to making the CSD system fully electronic and accessible to a broad spectrum of Kenyans. The recognition underscores the platform’s instrumental role in enhancing the financial market infrastructure in Kenya.

DhowCSD has democratized access to government securities, empowering investors to engage in trading activities on the secondary market from any corner of the globe. With its paperless, user-friendly, and secure trading process, DhowCSD has simplified investment in government bonds for all Kenyans, including the diaspora, through its mobile app or web portal.

Since its inception, DhowCSD has not only streamlined government securities operations for wholesale market participants and supported monetary policy endeavors but has also democratized access to the government bond market, ushering in a new era of financial inclusivity and convenience for investors nationwide.

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