[File, Standard]The Central Bank of Kenya (CBK) has ended a six-month freeze on the listing of loan defaulters and directed financial institutions to start sharing the information with Credit Reference Bureaus (CRBs). The suspension however did not apply to loans that were non-performing before April 1, for which regular procedures continued to apply. Read MoreCovid 19 Time SeriesFrom October 1, financial institutions will assess the performance of all loans that were performing before April 1. If the loan has not been regularised after the 30-day notice period, the financial institution will then list the non-performing loan with the CRBs,” said CBK in a statement to the press. "Borrowers are always required to fully service their loan obligations on a timely basis and engage their lender in case of any concerns,” added CBK.

Source: Standard Digital October 01, 2020 12:01 UTC