The Central Bank of Kenya (CBK) will now determine the prices charged by buy-now-pay-later (BNPL) companies if proposed amendments to the law are passed by Parliament.
The Business Laws (Amendment) Bill, 2024 deletes the definitions of digital channel, digital credit, digital credit business and digital credit provider in the Central Bank of Kenya (Amendment) Act, 2021 and replaces them with buy-now-pay-later and credit provider.
