Regulatory Alerts2014-02-24 | 1324096760Added · Updated
Banking Circular No 1 of 2014 - Rollout of Full File Credit Information Sharing
The Central Bank of Kenya has announced the rollout of a full-file credit information sharing mechanism for commercial and microfinance banks, effective February 28, 2014. All commercial and microfinance banks are required to submit full-file credit information to licensed credit reference bureaus by March 10, 2014, and incremental data on a monthly basis thereafter. Banks and microfinance institutions that fail to comply with the reporting requirements may face remedial action as specified by the relevant acts and regulations.
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