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University of Nairobi signs MoU with CBK

Central bank of kenyaThe University of Nairobi has got into a partnership with the Central Bank of Kenya (CBK) which will enable the university to increase its interaction with money markets through training and research collaboration.

The University of Nairobi officials said that it would benefit from enhanced research work, teaching, and training at the Central Bank, after signing the agreement.

The memorandum of understanding (MoU) would enable the two institutions to conduct joint research on economic indicators.

Jane Mariara, director of the School of Economics at the university, said that the partnership would help them to bring forth solutions to the country’s economic problems.

She opined that knowledge was not the domain of any single organisation and the partnership with the Central Bank would lead to increased economic opportunities.

The Central Bank will support the university by supervising postgraduate students who have specialised in monetary policy-related courses. The banking regulator would also send a representative to the advisory board of the School of Economics to help in research training.

The Central Bank of Kenya would also offer internship opportunities to students pursuing a PhD in Financial Economics.

The University of Nairobi, from its side, will support thesis and project supervision for Kenya School of Monetary Studies graduate programmes. The institution conducts masters degree programmes in banking and finance, financial economics, and economic policy analysis.

The Central Bank is the principal shareholder of the college located in Ruaraka, Nairobi.

Prof Mariara informed that lecturers from the two institutions would switch places, from time to time, as part of the exchange for this programme.

The CBK governor, Njuguna Ndung’u, said that the bank would abide by the terms of the MoU.

Prof Ndung’u, who taught at the university for 17 years, congratulated the University of Nairobi for the progress made towards disseminating quality knowledge to the Kenyans.

The university also signed MoUs with other institutions that included the Lanzhou University (China) and the Insurance Regulatory Commission last year. The Chinese University had concentrated on agricultural technologies in dry land farming, water harvesting, and waste management.

Image courtesy: FreeDigitalPhotos.net

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