Kenyan Government Issues Bill To Regulate Digital Credit Provision

Kenya's National Treasury has reviewed the challenges in the consumer credit and market conduct and has developed a draft Financial Markets Conduct Bill, 2018. The draft Bill aims at creating an effective financial consumer protection, make credit more accessible and at the same time supports financial innovation and competition.

The Bill provides for uniform practices and standards in relation to the supervision and conduct of providers of retail financial services based on International best practice. The draft bill covers digital lenders for the first time.

The bill is available at at https://dfsobservatory.com/content/financial-markets-conduct-bill-2018

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