ADVOKS GLOBAL · KENYA
The Banking (Credit Reference Bureau) Regulations
18. Nature of information to be shared
Edition: 2022-12-31 · In force
18. Nature of information to be shared
(1)Bureaus may share customer information, including positive and negative credit information, only in accordance with these Regulations and such customer information may include the following details—(a)the customer's identity, including —(i)in the case of a natural person, the person's name, date of birth, national identity card number, personal identification number issued under the Tax Procedures Act (Cap. 469B), passport number, driving licence number, previous and current addresses, and any other contact details; and(ii)in the case of a customer who is not a natural person, the customer's name, registration number, personal identification number issued under the Tax Procedures Act (Cap. 469B), names of directors, shareholders holding more than five per cent of its shares or partners, trustees or officials, former and current addresses, and any other contact details;(b)the customer's credit status including the nature and amounts of loans or advances and other credit facilities advanced or granted, amounts outstanding thereof, credit application and related matters;(c)the nature and details of any security or securities taken or proposed to be taken by an institution as security for the loans, advances and other credit facilities;(d)details of payment of credit facilities or default in payment by the customer, debt restructuring and actions taken by the institution to recover unpaid amounts including realization of securities, legal proceedings and related matters; and(e)identity details of the shareholders, directors, partners or officials of a corporate entity or unincorporated entity which has defaulted in repaying its credit facility.(2)An institution, third party credit information provider or any other person shall not submit to any bureau any negative credit information of a customer or any other person where the amount related to the credit information does not exceed one thousand shillings.(3)A bureau shall include a customer's credit score in every credit report prepared with respect to that customer.(4)A bureau shall furnish customer information using a format approved by the Central Bank.(5)An institution or third-party credit information provider submitting credit information to a bureau shall ensure that such information is complete and accurate.(6)An institution or third-party credit information provider that submits incomplete or inaccurate information to a bureau shall be liable to such penalty as the Central Bank may impose.(7)The Cabinet Secretary may, on the recommendation of the Central Bank, by notice in the Gazette, suspend some aspects of exchange of negative information under paragraph (1) for such a period and for such reasons as the Cabinet Secretary may specify.