CBK, CRBs and banks need a united front on sharing of credit information
The Central Bank of Kenya head office in Nairobi. In early 2018, CBK published a study that found that the number of loan accounts had declined significantly in the nine months after the interest rate cap.
The Central Bank of Kenya (CBK) and the three credit reference bureaus took out a paid advert in the leading dailies this week to explain what they are doing over the persistent concern that credit scores are being used to deny credit to Kenyans.
In its statement, which is available on its website, CBK has very helpfully included an annexe that traces the evolution of credit information sharing (CIS) back to 2010, when the mechanism was first launched. It explains that credit information sharing has been part of a continuing effort to lower the cost of credit.
