A Credit Reference Bureau (CRB) is an institution licensed by the Central Bank of Kenya (CBK) to collect, store, and disseminate credit information about borrowers to licensed financial institutions (subscribers). CRBs underpin the credit information-sharing system that allows lenders to assess borrower risk. They are regulated under the Banking (Credit Reference Bureau) Regulations, 2020, which replaced the 2013 Regulations.
Fees and Charges
| Fee Item | Amount (KES) |
|---|---|
| Application processing fee (non-refundable) | 10,000 |
| Annual licence fee | 100,000 |
| CRB clearance certificate (first issuance to individuals) | Free |
Key Application Requirements
| Requirement | Details |
|---|---|
| Company incorporation | Registered limited company with BRS |
| Memorandum and Articles of Association | Certified copy |
| Fit and proper forms | All proposed directors, senior officers, and significant shareholders |
| Sworn declarations | In the forms prescribed in the Second Schedule to the Regulations |
| IT and data management systems | Detailed description; must include unique identifier system for borrowers |
| Service policies and procedures manuals | Required |
| Security and control measures | To prevent misuse or improper management of credit information |
| Physical infrastructure | Secure premises meeting CBK data security standards |
After the initial application is reviewed by CBK inspectors and found satisfactory, the CBK notifies the applicant to pay the KES 100,000 annual licence fee by banker’s cheque, and to submit a statutory declaration by the CEO confirming compliance with the Regulations. The CBK then formally licences the CRB and publishes a notice in the Kenya Gazette.
A CRB licence is non-transferable. Any change of significant ownership requires CBK prior approval.
Regulated by the Central Bank of Kenya (CBK) under the Banking (Credit Reference Bureau) Regulations, 2020, and Section 31(3) of the Banking Act, Cap. 488.