Kenya Bankers Association

Company

Last mentioned: 2d ago

Timeline

  1. Audit Deadline

    Scheduled start of IRA compliance audits for insurance firms and intermediaries.

  2. High Court Filing

    KBA sues IRA to block the implementation of the bancassurance fee ban.

  3. IRA Circular Issued

    Regulator releases directive declaring service-based fees and profit sharing unlawful.

  4. Sustainability Reporting

    KBA CEO Raimond Molenje launches banking sector sustainability templates.

Stories mentioning Kenya Bankers Association 1

Regulation Bearish

KBA Challenges IRA's 'Illegal' Ban on Bancassurance Service Fees

The Kenya Bankers Association (KBA) has filed a High Court petition against the Insurance Regulatory Authority (IRA) over a directive banning service-based fees in the bancassurance sector. The KBA argues the ban on commissions and profit-sharing will disrupt a Sh35 billion market and hinder national insurance penetration.

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