The Banking (Credit Reference Bureau) Regulations

64. Central hub and industry tool

Edition: 2022-12-31 · In force

64. Central hub and industry tool

(1)Where bureaus, institutions and third-party credit information providers intend to jointly develop a central hub or industry tool for the submission of credit information by institutions and third-party credit information providers to the bureaus, the bureaus shall—

(a)seek approval of the Central Bank to establish the central hub or industry tool;

(b)comply with any framework that may be issued by the Central Bank on the establishment and use of a central hub or industry tool; and

(c)where a third party is to be contracted to develop the system for the bureaus, the Central Bank shall approve the proposed third-party service provider and the system.

(2)The Central Bank may prescribe a framework for the establishment and operation of a central hub or a centralized location for purposes of submission of credit information and access to the information by bureaus.

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Source: Kenya Law