{"id":22855,"date":"2021-02-19T21:01:04","date_gmt":"2021-02-19T21:01:04","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/?p=22855"},"modified":"2021-02-19T21:01:04","modified_gmt":"2021-02-19T21:01:04","slug":"cbk-transfers-sh5b-dividends-to-national-treasury","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-transfers-sh5b-dividends-to-national-treasury","title":{"rendered":"CBK transfers Sh5b dividends to National Treasury"},"content":{"rendered":"<p><strong>AfricaPress-Kenya:<\/strong> Central Bank of Kenya (CBK) has transferred Sh5 billion to the National Treasury as an \u201cexceptional\u201d payment to the government.<\/p>\n<p>In a press statement, CBK said it credited the money into the government\u2019s Consolidated Fund on February 17 amid the difficult financial times caused by Covid-19.<\/p>\n<p>The rushed payment, it said, was an exceptional distribution from its General Reserve Fund.<\/p>\n<p>\u201cThe CBK board authorised the transfer during its discussion of the unaudited financial statements for the 2020-21 financial year as at December 31, 2020, noting the very exceptional circumstances caused by an unprecedented global pandemic that have put a strain on government\u2019s resources, and having weighed the various factors as stipulated by the law,\u201d read the statement.<\/p>\n<p>CBK said the board considered the apex bank\u2019s financial needs in what is aimed at ensuring the financial sector regulator is well-resourced to deliver on its mandate in the increasingly uncertain economic environment<\/p>\n<p>According to the Central Bank of Kenya Act, CBK is supposed to transfer at least 10 per cent of its annual profits to the Ministry of Finance.<\/p>\n<p>The decision is made by the CBK board in collaboration with the National Treasury Cabinet Secretary.<\/p>\n<p>The transfer is done after allowing for CBK\u2019s operational expenses and after provision has been made for bad and doubtful debts, depreciation in assets, contributions to staff benefit funds, and other contingencies and accounting provisions as the financial regulator deems appropriate.<\/p>\n<p>Last March, CBK transferred Sh7.4 billion that it had saved from the demonetisation process that withdrew the old Sh1,000 notes from circulation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AfricaPress-Kenya: Central Bank of Kenya (CBK) has transferred Sh5 billion to the National Treasury as an \u201cexceptional\u201d payment to the government. In a press statement, CBK said it credited the money into the government\u2019s Consolidated Fund on February 17 amid the difficult financial times caused by Covid-19. The rushed payment, it said, was an exceptional [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":22856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[1155,2217,689],"class_list":["post-22855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-cbk","tag-central-bank-of-kenya","tag-treasury"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CBK transfers Sh5b dividends to National Treasury - kenya<\/title>\n<meta name=\"description\" content=\"Central Bank of Kenya (CBK) has transferred Sh5 billion to the National Treasury as an \u201cexceptional\u201d payment to the government.In a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-transfers-sh5b-dividends-to-national-treasury\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBK transfers Sh5b dividends to National Treasury\" \/>\n<meta property=\"og:description\" content=\"Central Bank of Kenya (CBK) has transferred Sh5 billion to the National Treasury as an \u201cexceptional\u201d payment to the government.In a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-transfers-sh5b-dividends-to-national-treasury\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-19T21:01:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/02\/cbk_gives_treasury_s602fb5e95073f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-transfers-sh5b-dividends-to-national-treasury#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-transfers-sh5b-dividends-to-national-treasury\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CBK transfers Sh5b dividends to National Treasury\",\"datePublished\":\"2021-02-19T21:01:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-transfers-sh5b-dividends-to-national-treasury\"},\"wordCount\":265,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-transfers-sh5b-dividends-to-national-treasury#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/02\/cbk_gives_treasury_s602fb5e95073f.jpg\",\"keywords\":[\"CBK\",\"Central Bank of Kenya\",\"Treasury\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-transfers-sh5b-dividends-to-national-treasury#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-transfers-sh5b-dividends-to-national-treasury\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/cbk-transfers-sh5b-dividends-to-national-treasury\",\"name\":\"CBK transfers Sh5b dividends to National Treasury - 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