Jamii Bora ordered to follow rules on payment of interest

Jamii Bora Bank branch in Nakuru. FILE PHOTO | NMG

A court has directed Jamii Bora Bank to comply with banking guidelines in calculating interest of a loan it advanced to a regional vehicle leasing company in May 2015.

Justice Onesmus Makau ordered the lender, which loaned Sh600 million to Vehicle and Equipment Leasing Limited (Vaell), to come up with the right figure that is based on Banking Act.

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