Thursday, September 28, 2006

Credit Reference Kenya

The Finance Bill expected to be passed early in 2007 will require banks to share information on non-performing loans and bad debts through credit reference bureaus. Previously.

3 comments:

pesa tu said...

Hope this spurs selling of Receivables on our markets.It should also get those of us who pay bills better rates.

toiyoi said...

BK,
Are the bureaus state owned or private companies? What kind of model do they use?

bankelele said...

pesa tu: Don't think we are ready for receivables market - the court system is too cumbersome and ties up bad debt cases forever

toiyoi: They are priavte companies. I believe they rely on bank's own models. i.e. banks determine what cases are bad (using CBK guidelines)

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