CRB Regulations Introduce Fines for Lending Institutions That Fail to Provide Credit Facilities to Blacklisted Borrowers
On 8th April, 2020, the Central Bank of Kenya (CBK) published the Banking (Credit Reference Bureau) Regulations, 2020 (“the CRB Regulations”) which seek to amend the Banking (Credit Reference Bureau) Regulations, 2013. Among others, the CRB Regulations provide lax rules with regard to the access of credit facilities by borrowers.