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Most members of the public believe that Credit Reference Bureaus (CRBs) are institutions that blacklist and prevent them from accessing loans.
For starters, CRBs are non-State entities regulated by the Central Bank. They were introduced in 2010 to collect and share information on borrowers, helping lenders make well-informed decisions before issuing a loan.
The overall reason for this is to help the lenders mitigate risk in lending. There are currently three registered CRBs in Kenya - Transunion, Credit info, and Metropol.
Facts First
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