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June 17, 2025
2mo ago

President Ruto signs laws to combat money laundering, reform insurance sector

President Ruto signs laws to combat money laundering, reform insurance sector

President William Ruto assented to the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025 at State House Nairobi on Tuesday...

✨ Key Highlights

President William Ruto has signed into law critical legislation aimed at combating money laundering and reforming the insurance sector in Kenya.

  • The Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025 addresses long-standing loopholes and enhances the country's financial integrity.
  • Amendments affect ten Acts of Parliament, focusing on compliance with global standards set by organizations like the Financial Action Task Force (FATF).
  • The Insurance Professionals Bill establishes robust oversight for the insurance industry, including a new Registration Committee and a focus on professional misconduct.

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