When you want to buy shares or bonds from Central Bank of Kenya, you have to open a CDS account, which you will use to transact your money. The process of opening this account with Central Bank of Kenya for Kenyans in diaspora is as follows.
STEP-BY-STEP GUIDE IN OPENING A CBK-CDS ACCOUNT FOR
KENYANS IN DIASPORA
N.B: Please note that ONLY Kenyans living in the diaspora and who hold a local (Kenyan) commercial bank account are eligible to apply for a CDS account directly at Central Bank of Kenya (CBK). Non-Kenyans and Kenyans without a local commercial bank account can however still invest in Kenya government securities as nominees of authorised CBK agents which include commercial banks, investment banks and stock brokers domiciled in Kenya.
- Visit the Central Bank of Kenya website http://www.centralbank.go.ke/ and download mandate card. (Individual) for individual investors and Mandate card (Corporate) for corporate investors
- Print the appropriate mandate card and fill out your details.
- Attach a recently taken coloured passport size photograph and a copy of investor’s Kenyan National Identity Card (ID) or Passport. These documents MUST be certified by your bankers (A local commercial bank based in Kenya).
- Have the filled in CDS mandate card certified by your Commercial bank.
- The investors Commercial bank will certify the completed CDS mandate card by way of appending the bank’s stamp and signatures of two of their authorised signatories on the space provided
- Scan the completed CDS mandate card and email to [email protected]
- Send the physical mandate and attachments by post to:
Financial Markets Department
P.O. Box 60000-
- Once the CDS account has been opened, the investor will be notified of the CDS account number via email as provided on the CDS mandate card submitted to CBK. A formal letter of notification will follow thereafter.
GUIDLINES FOR SUBMISSION OF BIDS (APPLICATION) FOR THE BOND
- Once the investor has been allocated and notified of their CDS account number, they can then proceed to apply for the Treasury bond that is on offer.
- To apply for the bond, download the bond application form at http://www.centralbank.go.ke/downloads/securities/appforms/securities/tbonds/tbonds_app form.pdf
- Fill in the following key details:
- Issue Number
- Value date
- Total Face Value – Amount the investor is willing to invest in Kenya Shillings
- (Minimum Kes 100,000 and additional in Multiples of Kes. 50,000 with a maximum of Kes 20 million per CDS account per investor for)
- Interest Rate (Price)