{"id":801,"date":"2024-03-07T08:41:17","date_gmt":"2024-03-07T08:41:17","guid":{"rendered":"https:\/\/www.beseenlimited.com\/trendblendhub\/?p=801"},"modified":"2024-03-07T08:41:19","modified_gmt":"2024-03-07T08:41:19","slug":"digital-lenders-licenced-to-operate-in-kenya","status":"publish","type":"post","link":"https:\/\/www.beseenlimited.com\/trendblendhub\/kenyan-business\/digital-lenders-licenced-to-operate-in-kenya\/2024\/03\/07\/","title":{"rendered":"51 Digital Lenders Licenced To Operate In Kenya"},"content":{"rendered":"\n

Digital Lenders Licenced To Operate In Kenya<\/a> – The Central Bank of Kenya (CBK) has granted approval to an additional 19 digital credit companies, bringing the total licensed providers in the country to 51. This expansion follows a thorough review of 480 applications received since March 2022 by CBK and other regulators, including the Office of the Data Protection Commissioner.<\/p>\n\n\n\n

CBK Highlighted <\/h3>\n\n\n\n

In a statement released on Wednesday, CBK highlighted the focus of their engagements, addressing business models, consumer protection, and the suitability of proposed shareholders, directors, and management. The accreditation process is part of regulations introduced in the previous year to eliminate rogue players in the rapidly growing industry and regulate the use of consumer data by lenders.<\/p>\n\n\n\n

Various applicants are at different stages in the accreditation process, with many awaiting the submission of required documentation. The move comes in response to concerns such as some companies contacting the family and friends of customers who defaulted on payments or failed to pay on time.<\/p>\n\n\n\n

Fraud Concerns <\/h3>\n\n\n\n
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Leading Website Development Company in Kenya – Be Seen Limited<\/a><\/blockquote>