NAIROBI (Xinhua) --
Kenya’s capital market regulator said Tuesday it
has licensed the country’s first company to operate online
foreign exchange trading.
The Capital Markets
Authority (CMA) granted Kenya’s first money manager license to
Standard Investment Bank Limited (SIB) to operate in the online
foreign exchange trading space.
Paul Muthaura, CMA
chief executive officer, said SIB is licensed to choose and
manage investments prudently for its online forex trading
clients and develop appropriate investment strategy.
He said the money
manager will also conduct financial analysis and monitor foreign
exchange portfolio investments on behalf of its clients.
In February, the
capital market regulator issued a license to EGM Securities
Limited to operate as a non-dealing online foreign exchange