Laws and Regulations
Approved Code of Conduct by CBK
Approved by the Central Bank of Kenya under Regulation 24 (8) of the Banking (Credit Reference Bureau) Regulations, 2020 on 18th May, 2021 Download …
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 …
October 2021 Digest – New Dawn for CIS
Following approval of the Code of Conduct by CBK on 18th May 2021, CIS Kenya has prepared a roadmap for on-boarding third-party CIPs into the CIS mechanism in accordance with the Code of Conduct and is in discussions with CBK, all licensed credit bureaus and FSD Kenya to ensure smooth and speedy implementation. Some of the key concerns that will be addressed by the Industry code of conduct include; Data quality. Consumer protection. Customer-centricity . Download the October 2021 Digest here …
Kenya CIS Virtual Conference 2021
The Conference was organised by CIS Kenya with the endorsement of the Central Bank of Kenya and support from the World Bank Group (WBG) and Financial Sector Deepening Kenya (FSD Kenya). The theme for this year’s Conference was ‘Enhancing Resilience of the CIS Framework in the face of Crisis’. The Conference brought together the leading sector players in Kenya’s credit market to review the impact of COVID-19 pandemic and related policy and regulatory interventions to the Credit Information Sharing (CIS) mechanism in Kenya. Download Report here …
Approved Code of Conduct by CBK
Approved by the Central Bank of Kenya under Regulation 24 (8) of the Banking (Credit Reference Bureau) Regulations, 2020 on 18th May, 2021 Download …
Supercharge Your Collections
Credit Rating & Risk-Based Pricing Webinar Debt Collection Course: Supercharge Your Collections Leveraging Credit Infrastructure & Skill Sets for Optimal Collections Date: 5th to 9th April 2021. Days: 5 Venue: Sarova Whitesands Mombasa What the training will cover Early warning signs of NPLs; Debt collection scorecards; How to overcome excuses – any excuse – for non-payment or delay; Collection techniques during COVID-19; How to write debt collection scripts; Mastering telephone collection techniques; CRB solutions for monitoring and collections prioritization; Compliance requirements for financial institutions under CRB Regulations, 2020; Debt collection ethical practices; How to improve the productivity of debt collection staff; Reporting …
Technical Assistant Position – 3 Posts
CIS Kenya is embarking on a six-month program aimed at ensuring that unregulated lenders meet strict criteria before joining the CIS mechanism. This will involve evaluating, among others, the quality of their data processing systems, their capacity to submit quality data to the CRBs, and their ability to address complaints raised by their customers regarding the accuracy of information submitted to the CRBs regarding them. This evaluation exercise will be supported by a few technical assistants. To find a detailed TOR Please follow this link. To apply please follow this link. …
MFI Capacity Assessment
CIS Kenya in determining the level of preparedness by various institutions conducted a capacity assessment on their ability to participate in the CIS mechanism. The MFI Assessment was financed by FSD Kenya which has been a keen partner to ensuring that the data submitted to the CRBs is reliable and credible in reaching credit decisions. To read the contents of the findings Read more… …
June 2020 Digest – Ushering a New Regulatory Regime
The Regulations have made Risk-Based Pricing mandatory for banks and other lenders to use a customer’s credit score when appraising a credit application and in determining the interest rate to charge. CIS Kenya and CARE Risk Solutions, India organised an interactive knowledge session on Internal Credit Rating and Risk Based Pricing on 19th May 2020. Across the world, people are being asked to stay at home and practice social distancing, to stop the spread of the COVID-19 virus. We will also feature an article on how on financial institutions can mitigate on NPLs. Download …
Lenders develop a Code of Conduct requiring Twenty Principles for sharing credit information
Lenders in Kenya have taken the bold and responsible step of putting their house in order to minimise unethical practices that have dented the credit information sharing (CIS) mechanism over the years. Following the challenge directed at them by the Central Bank of Kenya (CBK) and the public, lenders have developed an industry Code of Conduct that is closely aligned to the expectations of the consumers, regulators and international best practices. Development of the 20 Principles of an Effective CIS mechanism has been spearheaded by the Credit Information Sharing Association of Kenya (CIS Kenya) using its wide experience in CIS …
