Enactment of the Law to Regulate Digital Lenders and Issuance of the Corresponding Draft Regulations for Public Comment

Following Presidential assent on December 7, 2021, the Central Bank of Kenya (Amendment) Act, 2021, has become effective today, December 23, 2021. The Amendment provides the Central Bank of Kenya (CBK) with the powers to license and oversight the previously unregulated digital credit providers. This is a significant milestone. Correspondingly, CBK announces the issuance of draft Digital Credit Providers Regulations and invites public comments. The regulations are available here 

The Press Release is available here…