Welcome, Guest: Join Kenyans247 Log In!

Stats: 284 Members, 13,160 topics and 65 posts Date:  Saturday 26 September 2020 at 07:10 AM
Popular & Trending NewestFeatured Links ClassifiedDirectoryLivescoresLive Kenyan TVLive Kenyan Radio Follow Us Like Us

About Us Terms & Conditions Privacy Policy FAQ's Disclaimer Copyright Contact Us Advertise With Us Download K247 APP Marketplace Moderator Policy We Are Hiring Kenya Radio and TV Stations Listen and Watch Live Letter From the C.E.O Kenya Radio Stations Live Kenya TV Stations Live Kenya - Newspapers and News Sites and popular blog Forum Rules

Why CRB Listing May Haunt You Despite Govt' Directive

Kenyans247 / Kenyans247 / General / Business / Why CRB Listing May Haunt You Despite Govt' Directive

76 people viewed

Google Business Listing Calls: Scam Or Real? How To Report A Fake Business Listing On Google Maps Tips For Adding Photos To Your Google My Business Listing How To Create, Claim, And Verify Your Google Business Listing
(Go Down) (» Reply topic)
Why CRB Listing May Haunt You Despite Govt' Directive by Kenyans247(1): Thu 09, April, 2020 01:24pm
President Uhuru Kenyatta's directive on CRB listings has holes that may lead to customers being denied loans due to previous listings on the Credit Reference Bureau (CRB).

Sam Omukoko, the Group Managing Director of Metropol CRB clarified that there was no set mechanism preventing the banks from using data recorded before April 1 to assess one's creditworthiness.

Speaking on Citizen TV on Thursday, April 9, Omukoko stated that the CRB association was in consultation with the Central Bank (CBK) to chart out clear guidelines on how to navigate these possibilities.

"That is why now it requires proper interpretation and we the bureaus have approached the Central bank and said that we need a proper interpretation on how to implement the president's directive.

"We do not want a situation where customers go to the bank and are asking for credit and the banks are using the old CRB data to assess whether this customer should access credit or not," Omuoko stated.
He explained that if the directive is properly implemented, the Central Bank would guide the CRB association on how to treat credit that is issued during the crisis period and that which is issued after the president's directive has elapsed.

Omuoko further clarified that the President's directive had it that beginning April 1, the Bureaus were supposed to freeze listing, but not told to completely wipe out their entire credit history.

"What the President's directive means, is that starting April 1, the bureau is supposed to freeze customers accounts so that those who have a challenge in continuing repayment are not deemed as having defaulted.

“We cannot clear past credit history up to the end of March, that history will still be on the bureau. When customers go to borrow money, their credit histories will reflect what was there as of 31st of March," he stated.

He stated that if anyone was on the CRB list before April 1, they would still remain to be on the list after the pandemic is controlled and normalcy resumes.


"When the period that the president has directed has ended, we shall reinstate the previous history that the customer had so that there can be continuity in the reporting mechanism," he concluded.

On March 25, 2020, President Uhuru Kenyatta announced a raft of measures to cushion Kenyans on the effects of the COVID-19 pandemic, amongst them being the suspension of CRB listings effective April 1.

0 Shares 0 Like •

(» Go Up)

You must Sign in or Sign Up to post content

For you to post content on this website you have to log in or register, it only take few minute to create account

Go Up

Recommended for you

Why Crb Listing May Haunt You Despite Govt' Directive How To Create, Claim, And Verify Your Google Business Listing How To Report A Fake Business Listing On Google Maps Kenya Business Directory This Online Directory Provides A Listing Of All Compaies

Currently: 1 guest(s) reading this article

Sections: Kenyans247 ads, Family, Autos, Homepage, Food, Webmasters, Building/Architecture, Education, Phones, Universities, Music/Radio, K247 TV, Celebrities, Fashion, Photography, Ugandan Forum, Burundi Forum, Somalia Forum, South Sudan Forum, Tanzania Forum,

About Us | Terms & Conditions | Privacy Policy | FAQ's | Disclaimer | Copyright | Contact Us | Advertise With Us | Download K247 APP | Marketplace | Moderator Policy | We Are Hiring | Kenya Radio and TV Stations Listen and Watch Live | Letter From the C.E.O | Kenya Radio Stations Live | Kenya TV Stations Live | Kenya - Newspapers and News Sites and popular blog | Forum Rules | Featured LinksFollow Us on TwitterLike Us on Facebook

Kenyans247 - Copyright © 2019 - 2020 Sande Kennedy. All rights reserved. See How To Advertise.
Disclaimer: Every Kenyans247 member is solely responsible for anything that he/she posts or uploads on Kenyans247.