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.

2 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.

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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