Regulatory Alerts2016-08-10 | 190525037Added · Updated
Central Bank Circular No 3 of 2016 - Submission of Credit Information to Licensed Credit Reference Bureaus
The Central Bank of Kenya requires commercial banks, mortgage finance companies, microfinance banks, and credit reference bureaus to ensure submitted data is accurate, notify customers of the credit reference bureaus receiving their information within the prescribed period, and comply with permissible grounds for adverse listing. The circular addresses issues of inaccurate data submission, failure to advise customers on adverse listings, and the use of credit reference mechanisms for non-credit related matters. Failure to comply with these provisions of the Credit Reference Bureau Regulations, 2013, or other relevant acts will attract enforcement action.
More like this from CBK
We email you every new CBK publication the day it's published.