CRB contacts: After hitting the headlines twice this week when he realised the new currencies and when his term was extended for another 4 years, Central bank of Kenya(CBK) governor Patrick Njoroge is at it again, this time fighting and protecting the rights of borrowers.
In new regulations a new raft of regulations by the Central Bank of Kenya (CBK)Loan defaulters will soon be entitled to a 30-day notice from lenders before their names are submitted to credit reference bureaus (CRBs) for listing.
The CBK has published draft CRB regulations 2019 that prohibit banks, microfinance institutions as well as savings and credit co-operative societies (Saccos) from submitting the names of defaulters for listing without their knowledge.
The draft rules require financial institutions intending to report a customer to CRBs to inform him or her by writing or through electronic means and also send another communication informing them about the listing.
“An institution and a third party credit information provider shall notify the customer within one month before a loan becomes non-performing that the institution shall submit to a bureau the information on the loan immediately it becomes non-performing,” read the draft rules.
These regulations, if passed, will entitle every customer to an updated credit score
The credit references bureaus licensed in Kenya by CBK are only three and include, Transunion, Metropol and Creditinfo.
CRB contacts: Transunion
TransUnion is not a local company and currently operates in 8 countries in Africa: Botswana, Kenya, Namibia, Rwanda, South Africa, Swaziland, Zambia and Malawi. They offer Commercial, Consumer, Insurance and Auto risk information solutions across a number of industries, as well as personal credit management solutions in Africa.
It is a registered credit bureau and a repository of credit information on consumers and businesses. In other words, we store information on how you pay your accounts as it is provided by credit/service providers and courts on time in regular instalments, or not.
It enables credit/service providers to make fast and informed, reliable and objective lending decisions. This makes it possible for them to approve loans and credit to you
In Kenya they are located at Delta Corner Annex, Ring Rd Westlands Ln, Nairobi. They can be reached through telephone no: 020 7603700 and they’re website url is https://www.transunionafrica.com/.
Offices: Delta Corner Annex, Ring Rd Westlands Ln, Nairobi
Telephone: 020 7603700
CRB contacts: Metropol
Metropol is the only locally owned CRB and was established in Kenya in 1996 as a business Information and credit management company. In 2006 Metropol partnered with GCR to provide credit rating services that enable corporates to raise capital and meet their financing needs.
Metropol is also licensed by the Central Bank of Kenya to provide Credit Reference Bureau (CRB) Services to ALL banks in Kenya. Our CRB services leverage full-file credit information sharing and alternative data sources from MFIs, SACCOs, HELB, Utilities, Mobile phone companies and providers of goods and services on credit to help customers improve their access to finance and increase the credit providers’ capacity to lend profitably to more customers.
Offices: KCB Towers, Nairobi
Telephone: 0709 834000
CRB contacts: Creditinfo
Creditinfo Kenya is the largest CRB in Kenya and is owned by Creditinfo International – part of Creditinfo Group. Creditinfo Group operates credit bureaus across the world in Europe, Central Asia, Middle East, Caribbean and Sub-Saharan Africa. They are also experts in related credit software, credit scoring and credit decisions.
Creditinfo Kenya also offer services to assist banks in providing quality data to the Credit Reference Bureau; automation of the capture and decision process for new credit applications, development of bespoke scorecards and credit risk management consulting.
Offices: Park Suites, Office 12, Second Floor, Parklands Road, PO Box 38941-00623 Parklands, Nairobi, Kenya
Tel: +0709593000; +254718842833; +254735880880;+254 20 375 7272;
E-mail: [email protected]