Tag: cbk
Tracking Digital Lending Regulation as Proposed Framework Goes Through Public Scrutiny
The journey to regulating the digital mobile space by the VBK started a long time ago.
Precisely, we can point out 2018 as the year...
Safaricom Wants to Cap KES 1000 Free M-PESA Transfers to 5 Attempts But Loses Hearing
The Coronavirus pandemic has brought with it vast financial constraints for Kenyans and companies. To this end, the Central Bank of Kenya made a...
Central Bank of Kenya Extends Mobile Money Measures Enforced Due to COVID-19
The Central Bank of Kenya has today announced that they will extend the measures they put on mobile money transactions that they announced back...
Central Bank of Kenya Cracks Whip on Unregulated Digital Lenders By Denying Them CRB Access
Today, the Central Bank of Kenya has announced that they have terminated access to the credit reference bureaus (CRBs) to rogue mobile money lenders.
"With...
CBK Asks Banks to Extend Repayment Period of Loans Up to a Year Following the COVID-19 Menace
The government of Kenya, among other key organizations in the state, has been at the forefront in shielding locals from the adverse effects of...
Central Bank of Kenya Allows Safaricom to Double MPESA Transaction Limits
Today, Safaricom has announced that they have waived MPESA fees for person to person transactions below Kshs 1000 due to the coronavirus pandemic.
This was...
Central Bank of Kenya and National Treasury Working to Tame Predatory Lending Apps
Smartphone adoption and MPESA have created a new way for digital shylocks to lend people money. This has led to the ballooning of loan...
Digital Lenders to Cut Access to Loans to Customers with Multiple Online Credit Apps
The mobile lending space in Kenya has grown significantly. Every other month or week, a new mobile loan app finds its way into the...
CBK and Kenya Bankers Association Issue Tougher Regulations for New Currency Exchange Exercise
Over the course of the week, several inputs and insights have been explored regarding the release of new local currency that should come in...
Kenya Banking Charter Proposes Tough Regulations for Online Lenders
The growth of online mobile lenders is unique to Kenya for one primary reasons: mobile money services. Mobile loan apps have made a killing...
Kenya Government and CBK Launch SME Loan Product with Five Banks
Access to credit services, especially from established and traditional financial organizations has been a challenge for a lot of informal or growing businesses. It...
Fuliza, Safaricom’s M-Pesa Loan Facility Goes Live After CBK Approval
At the beginning of the month, Safaricom announced Fuliza, an overdraft facility on M-Pesa that would give M-Pesa customers access to an overdraw on their account...
CBK to Initiate Tougher Rules On a Mostly Unregulated Digital Lending Platform
A couple of days ago, I was having a chat with a friend about the number of online lenders that have come up after...
The CBK Distances itself from Any Losses Incurred by Virtual Currency Investors
The last couple of months has seen the rise, and depending on who you ask, a marginal drop of digital currencies. This development is...
The Central Bank of Kenya (CBK) Issues Draft Guidance On Cyber Risks
The Central Bank of Kenya (CBK) has released a draft titled ‘Guidance Note on Cyber Risk’. The draft is issued under Section 33(4) of...
Opinion: Why Kenya Should Embrace Virtual Currencies
It is rather regrettable, that the man we have at the helm of Kenya’s Central Bank, is of the opinion that Kenyans, and broadly...
Safaricom: Here’s Why We Sent SMS Broadcast from Deposit Protection Fund Board
Safaricom customers were the receivers of DPFB SMS's recently. The DPFB is an organization under the Central Bank of Kenya. Points clarifying the SMS...
