Laws and Regulations
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 …
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 …
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 …
5th Africa CIS Conference Report
The 5th Africa CIS Conference provided a unique meeting point for Africa’s financial sector players to share emerging developments on Credit Information Sharing and related aspects. The 5th Africa CIS Conference was different, with a wider conversation into the synergies that the broader credit infrastructure provides in promoting a more inclusive credit market. Under the theme: “CREDIT INFRASTRUCTURE FOR SUSTAINABLE GROWTH: Entrenching Dynamic Assessment of Risk”, emphasis were placed on inter-relationships between 4 key elements and 4 enablers of an effective Credit Infrastructure. Download Report …
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 …