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Credit bureaus play a critical role in Kenya's financial landscape, but just like any business, they may encounter circumstances that require them to wind up their operations. In such cases, strict regulations govern the dissolution and liquidation process to ensure the orderly closure of these entities while safeguarding the interests of consumers and financial institutions.
In Kenya, the credit bureau industry operates within a carefully regulated framework set by the Central Bank and the Banking Act Cap. 488. To provide you with a deeper understanding of these regulations, we'll dive into the specifics of what they entail and how they impact credit bureaus and consumers alike.
The credit bureau industry in Kenya plays a pivotal role in the financial sector by facilitating responsible lending and helping individuals and businesses access credit. If you're considering entering this sector by starting your own credit bureau, it's essential to understand the key requirements and steps involved. In this blog post, we'll guide you through the process of establishing a credit bureau in Kenya.
