Kenya: Central Bank of Kenya opened consultation on financial consumer protection framework

On 14 April 2026, the Central Bank of Kenya opened a consultation on the financial consumer protection framework, until 28 April 2026. The framework applies to all licensed financial service providers operating across any channel, including digital platforms. It imposes obligations across six consumer protection principles, including fair treatment of consumers, disclosure and transparency, product suitability, protection of consumer assets, accessible complaint resolution, and data privacy. It requires financial service providers to act honestly and in consumers' best interests, requires clear and timely communication of product terms and costs, and ensures products and services are appropriate to the needs of the consumer. It also requires safeguards over funds and property held on behalf of consumers, and accessible complaint resolution, requiring financial service providers to maintain effective and impartial mechanisms for handling consumer grievances, and requires responsible collection, use, and protection of consumer data. In addition, the framework requires each participating regulator to establish a dedicated, independent market conduct supervision function to strengthen oversight of business conduct across Kenya's financial sector.