The Central Bank of Kenya has asked Kenyans to submit their views on how it could improve its regulatory framework, including the issuance of loans.
In a statement issued by the bank on Monday, CBK expressed concern that, despite launching the Total Cost of Credit (TCC) Website in June 2017, the intention has yet to be fully realised.
The platform was developed to promote transparency in the banking sector and help borrowers clearly understand the full cost of credit before taking out loans.
The Central Bank of Kenya (CBK), in partnership with the Kenya Bankers Association (KBA), launched the TCC Website as a tool for individuals and businesses to compare loan products offered by different financial institutions.
However, despite the platform’s initial impact, CBK noted that the site has not evolved in step with the changing financial landscape.
The bank now believes a revamp is necessary to ensure it remains useful and relevant in the current credit environment.
To guide this process, CBK is inviting feedback from Kenyans through a survey that will help gauge their experiences with the TCC Website.
The regulator stated that it hoped to gather insights into the website’s usability, areas requiring improvement, and how it could better support financial decision-making.
The survey targets customers of commercial banks, mortgage finance companies, microfinance institutions, and the general public. Responses will inform the redesign and overall improvement of the platform to meet users’ expectations.
CBK also wants to use the feedback to enhance the website’s role in promoting financial literacy.
According to the bank, it believes that by empowering users with accurate loan cost information, borrowers can avoid predatory lending and make more informed financial choices.
The regulator has urged all stakeholders to complete the survey by July 15, 2025, through a link shared in its statement. It added that anyone facing difficulties accessing the form can reach out via the provided CBK email address.
"The survey link can be accessed at the Total Cost of Credit Website Customer Experience Survey and should be completed by July 15, 2025," read part of the statement.
"In case of any difficulties accessing the form or any related queries, you may contact CBK via email at fin@centralbank.go.ke."
This move is part of broader efforts by CBK to align its services with digital trends and ensure financial transparency and accountability in the credit market.
