”Now You Can Borrow Again” 64 Mobile Loan Apps Barred From CRB Access In Kenya.

Mobile Loan Apps Barred From CRB Access

TweetShareSharePin22 SharesCentral Bank of Kenya Governor Patrick Njoroge last week barred a number of mobile-based lenders from using the Credit Reference Bureaus (CRBs), denying them a critical tool in assessing the creditworthiness of a potential borrower. Besides unregulated mobile-based lenders, the Central Bank of Kenya CBK also withdrew the approvals granted to unregulated credit-only lenders as third party credit information providers to CRBs. “The withdrawal is in response to numerous public complaints over misuse of the credit Information System by the unregulated digital and credit-only lenders, and particularly their poor…

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