I recall the day I went down to CBK to open a CSD (Central Securities Depository) account to enable me invest in T-Bills and T-Bonds. This was after the relentless nagging from my older sister...I got the forms from CBK and took them to my bank for signing and think I did this move between my bank and CBK twice before it was accepted (not sure why the back and forth)
Finally I had my account, and now to bid for the T-Bills. You had to fill a manual form and drop it in a tender box at the entrance of CBK, and in the correct box else its rejected. Then wait for a couple of days and call for the results. The call was not automatic..the line was very busy and you had to try a couple of times! I remember there was once my bank didn’t process the payment and I got a strongly worded letter from CBK via post, weuhh!!
Then the Covid/Corona pandemic happened in 2020 and I suspect this hastened the process of finally making this online and therefore seamless for investors.
Enter the DhowCSD app in 2023!
Revoluntionary I tell you!
For those who did the whole manual thing ealier, this was a relief like no other
A google search reveals that the name 'Dhow' was deliberately adopted to signify the role that the CSD will be playing in our financial and capital markets. The 'Dhow' refers to the traditional wooden boat, which was used to facilitate the trading of merchandise along the coasts of East Africa, Eastern Arabia and South Asia
There you have it! Sign in now! its very easy, I promise!
