Central Bank of Kenya Invites Public Input on New Consumer Protection Rules

The Central Bank of Kenya has made an announcement to the public that citizens, industry players, and consumer organizations can make their input regarding the draft of the Financial Consumer Protection Framework of Kenya.

This development is crucial for ensuring regulatory control and consumer rights in Kenya’s financial sector.

According to the notice made on April 14, 2026, the Consumer Protection Framework Technical Working Group has completed the drafting process of the financial consumer protection framework.

CBK explains that this framework is meant to develop standards of fair dealings, transparency, and accountability within the financial service providers.

In addition, the CBK explains that the development of the framework is geared towards addressing the emerging challenges and risks associated with consumer protection in Kenya’s financial sector.

“Consumer Protection Framework Technical Working Group (TWG) has completed the drafting process of Kenya’s Financial Consumer Protection Framework (‘The Framework’)”, states the notice.

Framework Anchored on Key Consumer Protection Principles

According to CBK, the proposed framework is structured around six core principles aimed at ensuring ethical conduct and safeguarding consumer interests.

These include fair treatment, transparency, product suitability, protection of consumer assets, accessible complaints handling, and data privacy.

“The Framework has been developed with the aim of establishing the overarching standards for fair treatment, transparency, product suitability, protection of consumer assets, responsible business conduct and enhanced market conduct supervision across Kenya’s financial sector,” CBK stated in the notice.

The regulator further clarified that the framework seeks to harmonize consumer protection standards across financial institutions while strengthening supervisory mechanisms to enforce compliance.

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Guidelines on Public Participation and Submission

The CBK has requested that the general public and other stakeholders participate fully in the review of the draft and submit their comments according to the time schedule.

“We request that the general public, industry stakeholders, consumer organizations, and other concerned parties review and make submissions on the Draft Financial Consumer Protection (FCP) Framework for Kenya,” it was read in the notice.

All comments are expected to be submitted either through electronic means or hard copy before Tuesday, April 28, 2026.

It has been clarified that all responses will be made using the recommended comment submission form on the CBK’s website.

“According to the legal requirements, comments on the draft Framework should be submitted to the CBK or participating regulators by Tuesday, April 28, 2026.”

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Regulatory Cooperation among Multiple Agencies

The framework draft indicates a concerted effort where more than one regulatory body is involved in overseeing the regulation of the market in Kenya.

These agencies include the Capital Markets Authority, the Insurance Regulatory Authority, the Retirement Benefits Authority, the Sacco Societies Regulatory Authority, the Competition Authority of Kenya, and the Communications Authority of Kenya.

“Framework is also available at the respective websites of the Capital Markets Authority, Insurance Regulatory Authority, Retirement Benefits Authority, Sacco Societies Regulatory Authority, Competition Authority of Kenya and Communications Authority of Kenya,” CBK stated.

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