No CRB listing for loan defaulters before 6 months

Cropped shot of a group of unidentifiable business people using their smartphones in a huddle. [File, Standard]

Up to 2.7 million Kenyans may be released from the clutches of credit reference bureaus (CRBs) after Central Bank of Kenya (CBK) ordered banks to review their listing rules.

CBK has issued a circular that will in effect align mobile loans to normal loans, meaning you will only be considered to have defaulted after six months.