The Central Bank of Kenya (CBK) has signed a memorandum of understanding (MoU) with Toronto Centre to strengthen the skills and expertise of financial regulators and supervisors through specialised training and professional development.
The agreement was signed by CBK Governor Dr Kamau Thugge and Toronto Centre President and Chief Executive Officer Dr Babak Abbaszadeh on Friday, October 16, 2026, on the sidelines of the International Monetary Fund (IMF) and World Bank Annual Meetings in Bangkok.
In a statement, the CBK said the partnership would be implemented through the Central Bank of Kenya Institute of Monetary Studies, which provides training and research in monetary policy, banking and financial sector development.
The collaboration aims to enhance the technical capacity of professionals responsible for supervising and regulating financial institutions, strengthening their ability to respond to emerging challenges in the financial sector.
The partnership comes amid rapid changes in financial services driven by technological innovation, evolving market dynamics and emerging risks within the banking industry and other financial markets.
By improving the expertise of financial supervisors, the agreement is expected to support effective oversight, strengthen regulatory frameworks and contribute to the stability and resilience of Kenya’s financial system.
Effective financial regulation is critical to safeguarding public confidence, ensuring compliance with established standards and protecting the integrity of financial institutions.
Toronto Centre focuses on developing the leadership and technical capabilities of financial-sector regulators and supervisors, particularly in emerging and developing economies.
Through the MoU, the CBK seeks to strengthen its institutional capacity and expand professional development opportunities for experts tasked with overseeing the country’s financial sector.
The signing took place during the IMF and World Bank Annual Meetings, which bring together central bank governors, finance ministers, financial-sector leaders and policymakers to discuss global economic developments, financial stability and economic resilience.
The partnership underscores the importance of strengthening regulatory expertise as Kenya seeks to maintain confidence in its financial system and adapt to changing domestic and international economic conditions.
