Allow me therefore to extend my gratitude to the Kenya Bankers Association for facilitating this project and the invitation. The importance of this function cannot be overemphasised and I am delighted at the excellent turnout of the banking fraternity. The Banking (Credit Reference Bureau) Regulations 2008 were published in July 2008 and launched at this very venue in September 2008.
The Regulations paved the way for the licensing and surveillance of Credit Reference Bureaus (CRB) by the Central Bank of Kenya. These Bureaus will collate credit information from institutions licensed under the Banking Act. I am pleased to report that since the Regulations became operational in February 2009, there has been considerable interest by potential investors.