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House attempt to regulate interest rates fails
A section of Parliament chambers. Attempt to cap bank interest rates flopped on a technicality. PHOTO | FILE
Fresh attempts to cap bank interest rates by law flopped on a technicality Thursday after the Budget and Appropriations Committee said the proposed amendments to the Finance Bill went against Article 114 of the Constitution.
Mbeere South MP Mutava Musyimi, who chairs the committee, asked the Speaker to decline an amendment to the Central Bank of Kenya Act to cap rates filed by Gem MP Jakoyo Midiwo.
