CRB to protect Borrowers with new Code Of Conduct

CRB Kenya

Credit Information Sharing Association is after protecting the borrowers and has come up with a draft Code of Conduct for members including the CRBs.

The Central Bank recently issued some new guidelines that the CRB are to follow in order to sanitize the Credit Information Sharing (CIS) system.

Some of the new guidelines included;

  • CRB must never do business with unregulated lenders including digital lenders and Credit-Only companies. 
  • First time CRB Clearance Certificate application must be free
  • CRB must issue one free Credit report annually to borrowers on request. 
In a move to apply self regulation in the industry the CRBs and other members of the Credit Information Sharing (CIS) developed a Code of Conduct. 

Some of the rules that CIS members will follow that will benefit borrowers immensely include; 

  • ■ Lawfulness – Customer information must be shared in accordance to applicable laws and regulations and international best practice. 

  • ■ Minimality – Sharing of credit information must be timely, relevant and not excessive and restricted to what is permitted by law.

  • ■ Consent and Purpose Specification – Members are required to obtain clear and specific consents from their customers to share their credit information.

  • ■ Information use – Consumer credit information must not be used by a member or reported by a credit bureau in any way incompatible with purposes for which it has been collected.

  • ■ Data Retention Periods – CRBs will only expunge information from their data bases within the confines of the law.

  • ■ Information Quality – Credit information must be accurate, complete and up to date.

  • ■ Notification to consumers – Members must issue customers with specific pre-listing, post-listing and adverse action notices as well as any other notice stipulated in the regulations.

  • ■ Full file sharing – Members should share full file information daily with all licensed CRBs.

  • ■ Fair treatment of customers – Members shall act in a manner tthat does not discriminate against any customer.

  • ■ Customer complaints and dispute resolution – Members undertake to maintain functional and efficient dispute resolution process and to educate customers on their rights.


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