The National Bank of Kenya (NBK) is facing off with a Sacco linked with its current owner, KCB #ticker:KCB, over an estate worth Sh3.9 billion developed using a loan advanced by the lender.
At the heart of the dispute is whether NBK has breached part of the agreement and charged interest contrary to Islamic Banking law, under which the parties signed when the Sh1.95 billion loan was borrowed.
