President William Ruto has officially assented to the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025, just weeks after initially rejecting it and returning it to Parliament for reconsideration.
The move marks a significant policy shift after the President, in May, declined to sign the Bill.
The President cited constitutional concerns over the transitional provisions relating to the tenure of the Director of the Financial Reporting Centre (FRC).
In his memorandum to the National Assembly, President Ruto had raised alarm over Clause 3(2), which proposed a single non-renewable six-year term for the FRC Director.
President Ruto argued that it contradicted the constitutional framework governing independent offices.
He said that it could result in tenure exceeding eight years, unlike other constitutional officeholders.
Following parliamentary adjustments to address his concerns—particularly allowing current officeholders to serve out their existing terms—President Ruto has now given the green light to the amended version of the Bill.
