Relief to Kenyans as CBK Orders Removal of their Names from CRB List
On Monday, November 8, the Central Bank of Kenya (CBK) issued a 12-month suspension of negative credit listing for borrowers with loans of less than Ksh 5 million.
Christine Juma 
The regulation took effect on October 1 and will expire on September 30, 2022, according to a statement from the CBK.
The directive was issued in response to President Uhuru Kenyatta's announcement during the Mashujja Day celebrations. The action, according to the president, is one of the steps he is taking to help the Kenyan economy recover from the consequences of the global pandemic.
"The agency announces the suspension for a period of twelve months of the negative listing credit information for borrowers with loans below Ksh5 million whose loans were previously performing but have become non-performing from October 1, 2020."
Hand holding Kenyan Money. PHOTO TWITTER
"Further, CRBs will not include in any credit report, any negative credit information for loans of a customer less than Ksh5 million submitted to the CRB from October 1, 2020, to September 30, 2021," the statement read in part.
This follows a revelation in a local journal claiming that over 14 million Kenyans have been banned on credit reference bureaus (CRBs), drastically restricting access to credit at a time when millions of people are losing their employment.
