President William Ruto has signed into law two critical financial reforms: the Anti‑Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025 and the Insurance Professionals Bill, 2024. The move marks a significant step in Kenya’s efforts to tighten financial oversight, boost global investor confidence, and professionalize the insurance sector.
Highlights:
- President Ruto assented to two key laws on June 17, 2025
- New AML law strengthens Kenya’s fight against financial crimes and terrorism funding
- Insurance Professionals Bill introduces certification, licensing, and a regulatory body
- AML reforms target real estate, Saccos, NGOs, shell firms, and betting operations
- Laws respond to Kenya’s grey-listing by FATF over weak money laundering enforcement
The two bills, now law, aim to address glaring loopholes in Kenya’s financial system. The Anti‑Money Laundering and Combating of Terrorism Financing law amends 10 existing Acts to improve surveillance on high-risk sectors such as real estate, insurance, forex, and digital finance. It empowers the Financial Reporting Centre and law enforcement agencies to act swiftly against suspicious transactions.
Meanwhile, the Insurance Professionals Act creates a framework for the registration, licensing, and regulation of professionals in the insurance sector, ensuring accountability and trust in an industry often plagued by fraud and underqualified practitioners.
Kenya’s financial reputation took a hit after being placed on the FATF grey list in 2024 for failing to aggressively prosecute money laundering. These new laws bring the country in line with FATF and ESAAMLG (Eastern and Southern Africa Anti-Money Laundering Group) expectations, improving Kenya’s chances of being delisted and regaining global trust.
President Ruto highlighted that the laws would enhance transparency and make Kenya a more attractive destination for international investors. They also aim to shield ordinary Kenyans from fraud, funding of criminal activities, and exploitation within financial institutions
Kenya’s financial future is being rewritten—will these reforms bring the accountability and confidence the sector has long needed?
