The Central Bank of Kenya (CBK) has proposed new regulations to strengthen oversight of digital loan apps and other private lenders who do not take customer deposits.
CBK, in a notice issued on Thursday, invited the public to provide their opinions and feedback on the draft CBK (Non-Deposit Taking Credit Providers) Regulations, 2025, which aim to better protect borrowers from high interest rates, being troubled by debt collectors, and misuse of personal data.
The regulator explained that the proposed changes are meant to operationalise amendments made to the CBK Act through the Business Laws (Amendment) Act, 2024.
These changes also expand the scope of regulation from just digital lenders to all non-deposit-taking credit providers (NDTCPs).
