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BANKING & INSURANCE LAW

We advise local and international banks, microfinance institutions, fintechs, insurance companies, brokers, and policyholders across a broad spectrum of financial and insurance-related matters. Our services are grounded in key statutes such as the Banking Act, Insurance Act, Microfinance Act, Central Bank of Kenya Act, and related prudential and consumer protection regulations.

1. Regulatory and Licensing Advisory


  • Banking and Financial Services Licensing:
    • Advising on licensing and registration of commercial banks, microfinance institutions, credit-only lenders, and digital lenders under CBK regulations.
    • Assisting with approvals for agency banking, mobile banking platforms, and representative offices of foreign financial institutions.
  • Insurance Licensing and Compliance:
    • Advising insurers, reinsurers, brokers, and agents on licensing under the Insurance Regulatory Authority (IRA).
    • Preparing and submitting applications for registration and renewals.
  • Fintech and Digital Financial Services:
    • Structuring and compliance advisory for mobile money providers, digital credit providers, payment service providers (PSPs), and e-wallet operators.


2. Banking Transactions and Documentation



  • Loan and Facility Agreements:
    • Drafting and reviewing term loans, syndicated loan agreements, revolving credit facilities, asset finance and trade finance documentation.
  • Security Documentation:
    • Drafting and registering charges, debentures, mortgages, guarantees, and liens.
    • Advising on perfection of securities and compliance with the Land Act, Companies Act, and RBA guidelines.
  • Shariah-Compliant Financing:
    • Structuring Islamic finance products including Murabaha, Musharaka, and Ijara under Kenyan law.


3. Insurance Law Advisory



  • Policy Drafting and Review:
    • Drafting and advising on life, general, health, marine, and motor insurance policies.
    • Reviewing reinsurance agreements, facultative and treaty arrangements.
  • Regulatory Compliance:
    • Advising insurers on compliance with the Insurance Act, Prudential Guidelines, Anti-Money Laundering (AML), and Corporate Governance Guidelines issued by the IRA.
  • Insurance Product Approval:
    • Supporting product development, approval by IRA, and advertising compliance.


4. Mergers, Acquisitions, and Restructuring in Financial Services



  • Legal Due Diligence:
    • Conducting full legal due diligence for banks and insurance companies during mergers, acquisitions, or group reorganizations.
  • Transaction Structuring:
    • Advising on asset sales, portfolio transfers, and share acquisitions in regulated entities.
  • Regulatory Approvals:
    • Liaising with CBK, IRA, CMA, and Competition Authority of Kenya (CAK) for required consents and notifications.


5. Financial Regulatory Compliance and Governance



  • Regulatory Audits:
    • Performing internal compliance reviews and regulatory audits on AML/CFT, customer due diligence (CDD), KYC, data protection, and prudential requirements.
  • Corporate Governance Advisory:
    • Advising boards and senior management of financial and insurance entities on their obligations under CBK and IRA codes of conduct.
  • Risk and Compliance Programs:
    • Assisting in establishing internal controls, risk management frameworks, and whistleblower policies.


6. Dispute Resolution and Recovery



  • Banking and Insurance Litigation:
    • Representing banks and insurers in civil suits, enforcement actions, and disputes with customers, policyholders, or third parties.
  • Debt Recovery and Enforcement:
    • Advising on recovery of secured and unsecured debt through demand letters, statutory notices, foreclosure, receivership, and auction.
  • Policyholder Disputes:
    • Advising and representing clients in disputes relating to non-disclosure, repudiation of claims, and policy interpretation.
  • Alternative Dispute Resolution (ADR):
    • Handling mediation and arbitration in complex financial and insurance-related disputes.


7. Fintech, Mobile Banking, and Innovation



  • Digital Lending and Credit Scoring:
    • Structuring compliant digital lending models and advising on data privacy, interest capping, and disclosures under CBK Digital Credit Providers Regulations.
  • Mobile Banking Platforms:
    • Drafting partnerships and service level agreements (SLAs) between banks, telecoms, and technology vendors.
  • Blockchain and Insurtech:
    • Advising on the use of blockchain in insurance underwriting and claims, smart contracts, and regulatory implications.


8. Anti-Money Laundering (AML) and Financial Crime Compliance



  • AML/CFT Advisory:
    • Drafting anti-money laundering policies and customer due diligence frameworks for banks and insurers.
    • Advising on Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs) compliance with the Proceeds of Crime and Anti-Money Laundering Act (POCAMLA).
  • CBK and IRA Inspections:
    • Representing clients in regulatory investigations, on-site inspections, and enforcement proceedings.


10. Training and Legal Updates



  • Workshops and Seminars:
    • Conducting in-house training for compliance officers, credit teams, insurance underwriters, and legal departments.
  • Legal Alerts and Policy Briefs:
Providing updates on changes in the legal and regulatory environment, including Finance Acts, Prudential Guidelines, and judicial rulings.