Regulatory Alerts2018-08-31
Law No. 73/2018 of 31 August 2018 Governing the Credit Reporting System
Enacted by the Rwandan Parliament and promulgated by President Paul Kagame, this law establishes a comprehensive regulatory framework for the national credit reporting system. It mandates licensed credit bureaus and data providers to collect, securely store, and transmit positive and negative credit information while defining strict licensing criteria, governance standards, and confidentiality rules. The legislation grants the Central Bank supervisory and regulatory powers to oversee operations, cross-border data flows, and enforcement mechanisms, while guaranteeing data subjects specific rights to access, correct, and control the disclosure of their credit records.
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