The Central Bank of Kenya (CBK) and commercial banks are in talks to overhaul the Banking Act to resolve a loan pricing impasse over who between the sector regulator and the Treasury has authority to approve an increase in lending rates.
The Kenya Bankers Association (KBA), the banking sector lobby, says its members are engaging the CBK on the possibility of reviewing the Banking Act to provide that the apex bank is the entity solely tasked with approving variations to loan pricing by commercial banks.
