Laws and Regulations
Data Protection Act, 2019
The Data Protection Act was enacted in 2019. Members of CIS Kenya have been provided with summary of requirements as well as the roles each of their department is expected to take to ensure compliance. Members are encouraged to read and understand the full Act to ensure they are protected from legal risks that may arise on non-compliance. link …
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 …
Data Protection Act, 2019
The Data Protection Act was enacted in 2019. Members of CIS Kenya have been provided with summary of requirements as well as the roles each of their department is expected to take to ensure compliance. Members are encouraged to read and understand the full Act to ensure they are protected from legal risks that may arise on non-compliance. link …
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 …
Credit Rating & Risk-Based Pricing
Credit Rating & Risk-Based Pricing Webinar About this EventCredit Rating and Risk-Based pricing are extremely critical as each and every customer is unique in her own way. Compared with the one price fits all practice that was common in consumer lending in earlier decades, risk based pricing lowers the cost of credit for the majority of borrowers but also expands credit availability to higher risk borrowers and leads to a broader array of loan products available to all income groups. …
CRB Regulations 2020 offer more than ‘soft landing’ for COVID-19 disruptions
The CRB Regulations, 2020 gazetted by the Cabinet Secretary to the National Treasury on 8th April 2020 introduced major reforms aimed at strengthening the credit information sharing framework in Kenya. Most people will remember these Regulations mainly for four prominent things: suspension of negative listing for borrowers affected by the COVID-19 pandemic; withdrawal of Central Bank approval to some lenders previously allowed to share data; reprieve granted to first-time applicants for clearance certificates and borrowers who default on principal loans of less than Shs. 1,000. This affirmative action by Government has proved to be hugely popular among many stakeholders who …
Draft CIS National Policy
Kenya has never had a formal CIS policy. This paper is the first attempt to do so. Thus, while this Policy Paper is mostly a response to current developments, the failure of a formal policy, from the outset, has had repercussions. For example, despite global best-practise encouraging the sharing of positive and negative data, Kenya started out sharing negative credit data only. Read more.. …
A New Era in CIS Digest
In this digest, we feature articles on the CIS Learning Centre, Daily Submission and a summary of Data Specification Template version 4, RegTech-a conversation we will hold at the 5th Regional CIS Conference 2020 and an opinion piece on Google’s advertising policy on short term loans. Read the digest here …
Data Protection Act, 2019
The Data Protection Act was enacted in 2019. Members of CIS Kenya have been provided with summary of requirements as well as the roles each of their department is expected to take to ensure compliance. Members are encouraged to read and understand the full Act to ensure they are protected from legal risks that may arise on non-compliance. link …
Interest Rate Ruling-Petition_413_of_2016-Interest Cap
This is the ruling determining the constitutionality of the interest rate cap that was effected in 2016. Download the Petition_413_of_2016-Interest Cap …
April 2019 Digest
In February 2019, the Government of announced the Launch of ‘Huduma Namba’ a National Integrated Identity Management System. The purpose of the portal is to be a master population register, applicable to all residents of Kenya: foreign and citizens, which enables one to be identified using a single reference number in order to access government services. Its registration was rolled out on a pilot basis in select counties across the nation… Read more …
4th Regional CIS Conference Report
The explosion of mobile lending is severely limiting human interaction, and causing social apprehensions (such as over-indebtedness) and data protection concerns. On the other hand, the emerging disruptions are successfully promoting a cashlight economy and challenging traditional approaches to KYC, probability of default, and changing the dynamics of access to finance. On their part, risk managers are inquisitive about effectiveness of emerging risk assessment models and their integration with traditional scoring methodologies while policy makers are concerned about implications on consumer protection and financial sector stability. The 4th CIS Regional Conference was organised to shed light on some of these …
