Sign in
Download Opera News App

Economy&Finance

 

Credit card loan

 

Kenyans Blasts CBK After Saying The Following on CRB Listing

Today digital loan lovers or rather customers have been dealt huge blow following the move by Central Bank of Kenya to ask Parliament to revise a proposed law to allow digital lenders to resume reporting customer loan defaults to credit reference bureaus (CRBs).

This comes just months after the Central Bank of Kenya governor, Patrick Njoroge issued a directives deterring or preventing digital money lenders for instance branch and others from listing loan defaulters on Credit reference bureaus (CRBs). This comes at time when Kenyans are facing tough economic times especially during this covid-19 period.

Listing or reporting customers negatively to Credit reference bureaus (CRBs) in most cases makes it difficult or even impossible for one to acquire a loan from other credit providers, since they have their details listed as loan defaulters.

As we all know a bigger percentage of Kenyans survives of loans which they take from different credit providers to either start a business or pay school fees and other essentials.

Below are some of the reactions from Kenyans.

Content created and supplied by: @Migwalahotnews (via Opera News )

CBK Central Bank of Kenya Kenyans Patrick Njoroge

COMMENTS

Load app to read more comments