31. (1) The Central Bank or the Minister may publish in whole or in part, at such times and in such manner as it or he thinks fit, any information furnished to it or him under this Act:

Provided that the information so furnished shall not be published if it would disclose the financial affairs of any person, unless the consent in writing of that person has first been given.

(2) Except as provided in this Act, no person shall disclose or publish any information which comes into his possession as a result of the performance of his duties or responsibilities under this Act and, if he does so, he shall, for the purposes of section 49, be deemed to have contravened the provisions of this Act. .

(3) Notwithstanding the provisions of this section -

(a) the Central Bank may disclose any information referred to in subsection (2) to any monetary authority or financial regulatory authority, fiscal or tax agency, fraud investigations agency within or outside Kenya, where such information is reasonably required for the proper discharge of the functions of the Central Bank or the requesting monetary authority or financial regulatory authority, fiscal or tax agency, fraud investigations agency;

Provided that the sharing of information with institutions outside Kenya shall only apply where there is a reciprocal arrangement.

(b) the Deposit Protection Fund Board, institutions licensed under this Act and institutions licensed under the Microfinance Act, 2006 shall, in the ordinary course of business and in such manner and to such extent as the Minister may, in regulations, prescribe, exchange such information on non-performing loans as may, from time to time, be specified by the Central Bank in guidelines under section 33(4);

(c) the Central Bank and institutions licensed under this Act and intuitions licensed under the Microfinance Act, 2006 may, in the ordinary course of business, in such manner and to such extent as the Minister may, in regulations prescribe, exchange such other information as is reasonably required for the proper discharge of their functions.

(4) Without prejudice to the generality of subsection (3) (b) or (c), regulations under that subsection may provide for the establishment and operation of credit reference bureaus, for the purpose of collecting prescribed credit information on clients of institutions licensed under this Act, and institutions licensed under the Microfinance Act, 2006 and the Sacco Societies Act, 2008, and public utility companies and disseminating it amongst such institutions for use in the ordinary course of business, subject to such conditions or limitations as may be prescribed.

(5) No duty, to which an institution or its officers may be subject, shall be breached by reason of the disclosure, in good faith, of any information under subsection (2), to-

(a) the Central Bank or to another institution; or

(b) a credit reference bureau established under subsection (4),

in the course of the performance of their duties and no action shall lie against the institution or any of its officers on account of such disclosure.

(c) a deposit-taking microfinance institution licensed under the Microfinance Act, 2006.