CIS ValiData – An Innovative Tool for Efficient Data Validation and Submission of Credit Information to Credit Reference Bureaus
In 2017, the Central Bank of Kenya (CBK) constituted a technical working group (TWG) to identify candidate proposals aimed at reforming and streamlining Kenya’s Credit Information Sharing (CIS) mechanism. The objectives of the TWG were to: (i) review and revise the data specification template that is used for the submission of credit information to the three licensed Credit Reference Bureaus (CRBs); (ii) standardise the rules applied by the CRBs when validating the data submitted; (iii) recommend an appropriate model for the validation and submission of credit information; and (iv) harmonise the interpretation of credit scores based on the credit information …
CREDIT REFERENCE BUREAU REGULATIONS, 2013
The Credit Reference Bureau Regulations, 2013 operationalise Section 31 of the Banking Act and Section 34 of the Microfinance Act. Through this Commercial and Microfinance Banks are mandated to submit both Positive and Negative information on the performance of the credit facilities extended to its customers. Download the CREDIT REFERENCE BUREAU REGULATIONS, 2013 …
THE MICROFINANCE (DEPOSIT- TAKING MICROFINANCE INSTITUTIONS) REGULATIONS, 2008
The Microfinance Regulations were released to operationalise the Microfinance Act (2006).The regulations prescribe how licensing of the Microfinance Institutions is to be conducted, how to provision, classification of credit facilities and many other on conducting the microfinance business. Download THE MICROFINANCE (DEPOSIT- TAKING MICROFINANCE INSTITUTIONS) REGULATIONS, 2008 …
CO-OPERATIVE SOCIETIES ACT
The Cooperative Act is the piece of legislation that governs the operations of the Cooperative Societies in Kenya. Download Co-operative Societies ACT …