CBK and digital lenders to discuss regulatory frameworkTensions between the Central Bank of Kenya (CBK) and digital lenders have begun to cool after the two sides agreed to hold discussions.According to CBK Governor Patrick Njoroge, the digital lenders have reached out to his office for talks that could see a regulatory framework accommodating them, mooted. “Digital mobile lenders have offered to have a conversation with the CBK. Read Now »Kevin Mutiso, a spokesperson for the Digital Lenders Association of Kenya (DLAK) confirmed that DLAK is in talks with the CBK. Millions of Kenyans have been listed on Credit Reference Bureaus (CRBs) by the digital mobile lenders for loans as little as Sh500. Despite their perceived rogue tactics, the digital mobile lenders have helped widen financial inclusion.

Source: Standard Digital May 05, 2020 05:26 UTC