Proposed law to allow Bitcoin, social media monetisation as collateral for loans MPs urged to expand the range of assets that CBK recognises as loan collateral. Business 18 min ago

“Provide for a broader scope of assets that the Central Bank will recognise as loan collateral to include digital assets, patents, digital or social media monetisation, chattels, livestock and other movable assets, which most customers own and can use as security,”said Kimathi Kimencu, a partner at Musyimi & Company Advocates.

The BRS says the Movable Property Security Rights regime has continued to support micro, small and medium-sized enterprises (MSMEs) by enabling them to access credit using movable assets as collateral.

The Association of Microfinance Institutions of Kenya (AMFI) has asked the National Assembly's Finance and National Planning Committee to broaden the definition of acceptable collateral to include digital assets, patents, income from monetised social media platforms, chattels, livestock and other movable assets.