President William Ruto has reaffirmed Kenya’s commitment to financial integrity and regulatory excellence with the signing into law of two key bills aimed at closing loopholes exploited for illicit financial flows and enhancing professionalism in the insurance sector.
During a ceremony held at State House, Nairobi, President Ruto assented to the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025, marking a significant step in strengthening the country’s legal framework against financial crime.
The legislation introduces stricter oversight on property transactions, increased transparency in beneficial ownership of companies, and tougher enforcement mechanisms to deter the use of shell companies for money laundering and terrorism financing.
“Kenya is keen on pursuing reforms that cement our position in the region as a leader in financial integrity and regulatory reform,” said President Ruto. “This law closes the gaps that have allowed illicit financial flows to thrive, and aligns our systems with global best practices.”
Also signed into law was the Insurance Professionals Bill (National Assembly Bills No. 13 of 2024), a transformative piece of legislation that aims to raise the bar for service delivery and ethical conduct in the insurance industry. The new law provides for mandatory licensing, continuous professional development, and a code of conduct for all practicing insurance professionals in Kenya.
“These reforms are not just about compliance—they are about building trust. We want Kenyan institutions to inspire confidence at home and abroad, and these laws will help us achieve that,” President Ruto added.
The signing ceremony was witnessed by key national leaders, including National Assembly Speaker Moses Wetang’ula, Majority Leader Kimani Ichung’wah, Solicitor-General Shadrack Mose, and Chairperson of the Finance and National Planning Committee, Hon. Kuria Kimani, among other dignitaries.
Both bills form part of the government’s broader agenda to modernize regulatory institutions, promote financial transparency, and safeguard Kenya’s economic systems from abuse—while supporting growth in critical sectors of the economy.
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