CMA excludes Kenya Shilling in forex online trading as new rules take shape

Capital Markets Authority Director for Regulatory Policy and Strategy Luke Ombara (right) and Chartered Certified Accountants Head of Marketing for Sub-Saharan Africa Alex Mswaka when the two organisations signed an agreement to undertake joint financial literacy initiatives at CMA offices in Nairobi yesterday. [Wilberforce Okwiri, Standard]

The Kenyan shilling will be excluded from online forex exchange trading for an uncertain period as the Capital Markets Authority (CMA) moves to effect new laws.

According to CMA Director for Regulatory Policy and Strategy Luke Ombara, Central Bank of Kenya (CBK) wants to monitor the likely impact of having the shilling trade against other currencies in the era of a first-time legislation on online forex trading.