The decision by the National Assembly to pass the Banking (Amendment) Bill, 2015 has triggered intense debate on the anticipated consequences of controlling the pricing of loans by commercial banks in Kenya. If approved by the President in the form presented to him, the new law will cap lending rates at four percent above the Central Bank Rate (CBR) and set minimum interest rate for deposits in interest-earning accounts at 70 percent of the CBR.
Parliamentary Petition to Disband CRB Mechanism is Retrogressive
A number of concerns have arisen about credit information sharing (CIS). Many of these are indeed myths about credit reference bureaus. John Lenon once said, ‘’ I believe in everything until it is disproved. So I believe in fairies, the myths, dragons. It all exists, even if it’s in your mind.’’