Publications
Published on January 1, 2011

Consumer protection diagnostic study – Kenya

Download  
Summary

Financial consumer protection is about ensuring a fair exchange between providers and consumers of financial services. A deliberate policy framework is necessary to counterbalance the inherent disadvantage of financial service consumers vis-à-vis the power, information, and resources of their providers. Without a clear policy framework, retail consumers typically find it difficult or costly to obtain sufficient information or adequately understand the financial services or products that they purchase. Well informed and empowered consumers not only protect their own interests, they also provide an important source of market discipline to their financial service providers. They encourage financial institutions to compete on the basis of useful products and services. A comprehensive consumer protection framework can therefore improve efficiency of financial intermediation, build trust in financial systems, and reduce risks to financial stability.

You might also like

Financial education in Kenya: Scoping exercise report

Opportunities for financing the mango value chain: A case study of lower eastern Kenya

Review of FSD’s index based weather insurance initiatives

Costs of collateral in Kenya: Opportunities for reform

Financial diaries respondent profiles: “Evelyn”: Coping with chronic illness

KCPA briefing note