2010-07-13 | 1343395054

Banking Circular No 3 of 2010 - Roll Out of Credit Information Sharing Under the Banking Act

The Central Bank of Kenya announces the rollout of credit information sharing under the Banking Act, with the aim of promoting access to affordable credit for Kenyans by reducing information asymmetry between borrowers and banks. The credit information sharing mechanism will be operational from July 31st, 2010, and institutions are required to submit credit information to licensed Credit Reference Bureaus (CRBs). Non-compliance with reporting requirements will attract remedial action as per the Banking Act and CRB Regulations.

Kenya

Central Bank of Kenya

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