CRB To Resume Listing Kenyan loan Defaulters After 6-Month Halt
CRB was ordered to stop listing at the beginning of the Covid-19 pandemic.
However, CRB listing is back after a 6-month halt ordered by the government.
The government halted CRB listings on 14 April due to Covid-19 economic woes.
On 30th September, the order came to it’s end. Central Bank Of Kenya Governor Dr. Patrick Njoroge said the halt wasn’t going to be extended.
Following this order, banks and all other lenders shall report loan defaulters to CRB. Therefore, as from October first, if a Kenyan defaults paying the lenders money for 60 days, he or she shall be issued with a notice of being reported to CRB.
If the defaulter fails to pay within 30 days after the notice, their details shall be forwarded to CRB for listing.
This move is expected to see many Kenyans listed given the economic hardships they are facing during this Covid-19 pandemic. So, what are your views as a Kenyan, was it the right time to lift CRB listing halt? Let us get your views in the comments section below.
