Business / News
Thursday, 16 Feb 2017 09:10 EATnewsdesk@kenyafreepress.com
The Central Bank of Kenya has been recognized for its development of a website that has transformed the way it communicates with the public. CBK has won the 'Website of the Year' award at Central Banking Awards, which is judged by retired central bank leaders from around the world. Among other winners are 'Central Bank of the Year', which went to the Bank of England, 'Risk Manager of the Year' which went to Bank of Ghana, and 'Risk Management Services Provider of the Year' awarded to OpenLink.
According to information on the CBA's website, the Bank of England won after navigating tricky political currents during the UK's Brexit process. Reforms undertaken at the Bank showed both that it was "open to scrutiny and willing to change for the better, boosting transparency, forecasting, market operations and more. Such an approach stood the central bank in good stead to defend itself from the hostile environment around the UK's vote on European Union membership," the statement said.
The Central Banking Awards draw on 27 years of independent and informed reporting, analysis and comment, and judged by a panel made up of members of the Central Banking Editorial Team and Editorial Advisory Board, which comprises former central bank governors from around the world. Today's award were announced in London early today. Christopher Jeffery is the Chairman of the Central Banking Awards Committee and Editor-in-chief of Central Banking.
For the CBK award, the institution recognized changes made as CBK celebrated its fiftieth anniversary. "With a large number of its visitors coming from mobile devices, the bank recognised it was time to adapt the site's design to make it responsive. Taking inspiration from central bank websites across the globe and extensive user feedback, the bank adopted a completely new layout with simplified rhetoric, aligning the design to international best practice," the statement said.
The streamlined design now highlights topics of interests as well as key statistics, including the annual inflation rate, interest rate and key exchange rates. Infographics have also been employed to offer more visual assistance for visitors. CBK Governor Patrick Njoroge said of the award: "In the redesign, CBK took into account the fact that the website is a key channel through which the institution seeks to provide diverse audiences with timely and accurate information on its mandate and policy actions.
“The new website was thus designed to offer an expanded range of features and content, consistent with the institution's vision to be a world-class central bank in a vibrant financial sector."
Jack is a business and society writer at the Kenya Free Press