How to Open a CDS Account With Central Bank of Kenya (CBK) for Kenyans in Diaspora

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.

1. 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

2. Print the appropriate mandate card and fill out your details.
3. 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).
4. Have the filled in CDS mandate card certified by your Commercial bank.
5. 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

6. Scan the completed CDS mandate card and email to [email protected]
7. Send the physical mandate and attachments by post to:

The Director,

Financial Markets Department

P.O. Box 60000-

00200, Nairobi,

Kenya

8. 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

1. 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.

2. 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
3. Fill in the following key details:
   • Issue Number

• Duration

• 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)