Banks now step up campaign to repeal interest rates

Kenya Bankers Association CEO Habil Olaka on October 19, 2017 during a press conference on the Banking (Amendment) Act 2016. PHOTO | DIANA NGILA | NMG

Kenya Bankers Association (KBA) has stepped up its campaign to have the law capping interest rates repealed with intense lobbying of parliamentarians to fast track the process.

The lobby, which represents all banks, Thursday released data showing that the flow of credit to individuals and small businesses had significantly dropped in the year to September.

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Note: The results are not exact but very close to the actual.