The steps required to Apply for a Forex Bureau License are quite easier due to the virtual nature of the License. Forex Bureaus were established and first licensed in January to foster competition in the foreign exchange market and to narrow the exchange rate spread in the market.

If you are planning to conduct a Forex bureaus business in Kenya you need to follow the Forex Bureau regulated Rules under the provisions of regulated under the provisions of the sections 33A to 33O of the Central Bank of Kenya Act Cap and Guidelines issued thereunder the sections No. The Central Bank of Kenya Act Cap and Guidelines issued thereunder enumerate all the required procedure to Run a Forex Bureau Business in Kenya.

Currently there are eighty seven 87 licensed Forex Bureaus located in various towns of Kenya as shown below:. Book an appropriate name with the Registrar of Companies and write to the central Bank of Kenya to seek approval for the name.

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On receiving the license from the Central bank of Kenya, the applicant must obtain the certificate of commencement of Business from the registrar of companies,and submit a copy to the N bank of Kenya. A non-refundable application fee of Kshs.

Kenya - Apply For a Forex Bureau License - Wikiprocedure

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