These developments have significantly impacted on currency circulation patterns in the country making it inevitable for the Central Bank and commercial banks to review how these operations can be conducted cost effectively. Honourable Deputy Prime Minister, the Central Bank of Kenya in conjunction with the Kenya Bankers Association embarked on establishing Currency Centres two years ago.
This was done as a way of supporting commercial banks to efficiently provide financial services in various regions of the country and reduce the distance over which cash is moved between one Central Bank Office and the upcountry branches of commercial banks. The main objective is to reduce cost of doing business.