Credit Reference Bureau Awareness

1. What is a Credit Reference Bureau?

A Credit Reference Bureau collects information on your loan repayment history from participating institutions - commercial banks, credit institutions, microfinance deposit-taking institutions, and Accredited Credit Providers [ACPs]. This information is made available in the form of a credit report, which can be used by your loan provider to quickly decide on your next loan request. This information is accessible to Bank of Uganda regulated institutions and the borrowers.

All Credit Reference Bureaus are licensed by Bank of Uganda.

What information is collected on a borrower?

• Information on a borrower consists of facts associated with loan arrangements, such as contract details and repayment history. This information helps loan providers to judge the ability of a borrower to repay loans.


• The following information will be shared under the credit reference bureau service: loan amount, balance, payments made, term of the loan, date of when you received the loan, collateral, group members, employer information, addresses, telephone numbers, dishonored cheques due to lack of funds, loan performance and other information that you provide when taking out a loan.

2. How do you benefit from Credit Reference Bureau services?

• Borrowing will become easier as borrowers with a good loan record may not be always required to provide big securities like land titles to get a loan.


• Loan providers will know more about you and may offer you lower interest rates or larger loans.


• Getting loans will be quicker due to timely access of your loan records.


• Loan providers will not need so many documents from you every time you request for a loan.


• You will be guided on getting a loan that you are able to repay.


• The price of loans will come down as loan providers compete for good borrowers.


• You can build a good reputation as a borrower and use it to obtain better terms from lenders.

3. What are your rights?

• You have a right to consent before information on your loan history is sent to the Credit Reference Bureau.


• If you believe that the Credit Reference Bureau has wrong information about you, you have a right to dispute it and have it corrected.


• You have a right to access your credit report through a regulated financial Institution.

4. New Regulation:

• Financial-Institutions-Credit-Referencing-Bureau-Regulations 2022 which are a revision of the 2005 regulations, introduced and added Accredited Credit Providers [ACPs] which includes SACCOs and Micro Finance Institutions.


• Effective February 1st, 2024, registration of any new borrowers to the Financial Card Services (FCS) was ceased in alignment with the Registration of Persons Act 2015 and the directives from the Bank of Uganda


• All bureau systems have been upgraded to utilize the National Identity Number (NIN) as the unique identifier for CRB records.

Further information can be accessed on the Bank Of Uganda website link below https://www.bou.or.ug/export/sites/default/.gallery/publiceducation/Brochures/Credit-Reference-Services-CRS-QA.pdf

You can also reach out to the Bank in case of any further inquiries by calling toll-free 0800 222000.