CMA grants Standard Investment Bank online forex trading licence

The Capital Markets Authority (CMA Kenya) has granted a licence to Standard Investment Bank to operate in the online foreign exchange trading space.
“As a money manager, SIB is licensed to choose and manage investments prudently for its online forex trading clients and develop appropriate investments strategy. SIB will also communicate client’s buy and sell order positions through a licensed online forex trading broker, to meet client’s investment goals. The money manager will conduct financial analysis and monitor foreign exchange portfolio investments on behalf of its clients,” CMA Chief Executive Paul Muthaura said.

SIB becomes the second company in Kenya to receive an online forex trading licence after EGM Securities Limited was granted in February this year.