Central Bank - Banking Institutions
This is a bank which is entrusted along with the responsibility of keeping economic stability and financial soundness of a country. Therefore it is entrusted along with two objectives as:
1. Responsibility of keeping financial soundness of the economy.
2. Such bank has therefore to recognize gaps in financial markets and to seek
3. Solutions to these gaps.
4. To act like a commercial bank. Therefore it has to operate profitability
5. When offering employee to difference parties.
Management of the Bank
Management and policy entrusted to a Board of Directors, including of seven members comprising the Governor, and Ps and, Deputy Governor to treasury. The Governor of the Central Bank is the director head of the bank. The Governor today in charge is Michael Cheserem.
Statutory Information and Accounts
The bank is necessary to publish a return of its assets and liabilities every month of year. A copy of output can be submitted to Finance Minister. The bank has to get ready also and publish an annually report into three months of the ending of fiscal year. Fiscal year ends on date 30th June.