Big rift in rate cap review call as CBK mulls law amendment

The Kenya Bankers Association (KBA) Chief Executive Habil Olaka. FILE PHOTO | NMG

A lot of interest has been shown around calls for the review of the year-old law capping loan interest rates.

Whereas price controls may not be good for the economy in the long run according to industry regulator, stakeholders want the Central Bank of Kenya (CBK) to implement global benchmarks that will ensure borrowers are protected against exploitation by banks should the ceiling be removed.

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