Common Queries
Frequently Asked Questions
Credit Reference Services (CRS) refer to services provided by a Credit Reference Bureau (CRB) to enable lenders know how borrowers repay their loans. Credit information submitted by Commercial Banks, Credit Institutions and Microfinance Deposit taking Institutions is shared amongst themselves to enable them make informed credit decisions.
A CRB is a company licensed by Bank of Uganda to collect and collate credit information on individuals and companies from various sources and disseminate that information in form of a credit report to authorized users.
A credit report is a record of an individual or company’s borrowing and repayment history prepared by a credit bureau. The report shows how the borrower has handled credit in the past and based on this information, lenders determine the applicant’s credit worthiness.
When you maintain timely repayments and a healthy credit record, the CRB is able to develop a positive credit profile for you.
Your credit report becomes your collateral (reputation collateral) as lenders begin to lend to you based on how well you have repaid others in the past.
The CRS ensures that your healthy credit habits are rewarded. If this information is not shared, other lenders will not know that you are a good client.
The major source of credit information is the traditional lenders like Commercial Banks, Credit Institutions and Microfinance Deposit taking Institutions. Others could include utility companies, tax authorities, telephone companies, court registries and trade organizations that provide goods and services on credit.
General Questions
Frequently Asked Questions
A Credit Score is a number (value) that reflects the likelihood of a borrower defaulting on a loan facility. The CRB uses your credit history to calculate your credit score. A higher credit score means that you are deemed a low risk borrower and are more likely to be approved for credit.
The CRB has information about you as a person (bio data), employment information, contact information, residential address, past and present credit transactions, collateral information as well as any other credit related information as provided by the lenders.
No: Customers cannot share their credit information directly with the bureau. This must be done by lenders. Nevertheless the customer can ask the institution he/she has borrowed from to share his credit information with the CRB.
In case of any disputes, you can lodge a formal complaint to the CRB and it will be responded to within twenty business days. During the time of investigation, your credit profile will show that it is under dispute. When the correction is made, all the lenders who previously received the incorrect information will be notified.
If your claim was unfounded, then you may be required to pay for the cost of the investigation process incurred by the institution and the CRB. You may download the Disputes Form from this website.
It is no longer necessary for one to physically come to the bureau to access basic bureau services. Metropol has developed a mobile based application called Crystobol which enables you to access bureau services wherever you may be located across Uganda. You simply dial *243# and follow the prompts. Be sure to have your Financial Card number ready as well as some credit on your airtime and mobile money accounts.
Anyone who wants to get in touch with Metropol CRB can use the address below;
Metropol Uganda Limited
Plot 9, 4th Floor, Yusuf Lule Road
P.O Box 5999, Kampala- Uganda
Tel: +256 200 516 800
Email: info@metropol.co.ug
Website: www.metropol.co.ug
Facebook: MetropolUG
Twitter: @MetropolUganda