Kenya Seals Loopholes in Terror Finance and Insurance Sectors

17 June 2025
Nile Post (Kampala)
By Salmah Namwanje

President William Ruto has signed into law two key bills aimed at boosting Kenya's financial governance and professional standards in the insurance industry, reinforcing the country's position as a regional leader in financial integrity and regulatory reform.

In a ceremony held at State House, Nairobi, President Ruto assented to the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025.

The new law is designed to seal critical loopholes that have previously enabled illicit financial flows, particularly through property transactions channels commonly exploited by terrorist financiers.

"Kenya is keen on pursuing reforms that cement our position in the region as a leader in financial integrity and regulatory reform," President Ruto said after the signing.

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The strengthened legislation equips law enforcement and regulatory agencies with enhanced tools to track suspicious financial activity, enforce transparency in ownership of companies and real estate, and conduct stricter vetting of financial institutions.

It also improves the sharing of financial intelligence between agencies and aligns Kenya with global anti-money laundering and counter-terrorism financing (AML/CTF) standards set by the Financial Action Task Force (FATF).

Authorities say the amendments will directly aid efforts to disrupt funding streams linked to terrorist networks operating in the Horn of Africa and the Great Lakes region, including cross-border transactions that have previously gone undetected.

President Ruto also signed the Insurance Professionals Bill (National Assembly Bills No. 13 of 2024), a law that sets new benchmarks for service delivery and professionalism in Kenya's insurance sector.

The legislation is expected to bring more accountability and trust into the sector by regulating the conduct of insurance professionals and enhancing consumer protection.

The signing ceremony was attended by National Assembly Speaker Moses Wetang'ula, Majority Leader Kimani Ichung'wah, Solicitor-General Shadrack Mose, and Finance and National Planning Committee Chairperson Kuria Kimani, among other senior leaders.

The new laws are expected to not only enhance investor confidence but also fortify Kenya's financial system against abuse, foster safer economic growth, and bolster national and regional security through tighter regulatory controls.

Read the original article on Nile Post.

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