With the Launch of credit referencing information sharing by CBK and KBA yesterday,what happens from here?

Does it mean that when you default paying loan in one bank your details are circulated to all banks?

That may make defaulters to style up. What do you think?

It doesn't hurt to know more than you have

@ bird_man

The ceiling is going to be Kshs. 1 million effective 1st October,2009 and not 100k as you have indicated. But guess what customers said they will increase the cheques so in actual sense more cheques going around. About credit reference bureau,the days are numbered for multiple defaulters.


'Do all the good you can,by all the means you can,in all the ways you can,
in all the places you can,to all the people you can,as long as ever you can'.
John Wesley
English Preacher (1703-1791)

The majority of bank defaulters are those who apply for unsecured facilities especially with EQBL.

I expect to see a very radical improvement in NPA book of many banks since borrowers will take more caution in repayments.

Now banks should raise their unsecured loan limits without much of a worry to enjoy good returns before river road guys get a loophole in the whole system.

It doesn't hurt to know more than you have