Kenya: Banks to Retain Interest Rates on Current Loans

19 August 2019

Commercial banks will not adjust the interest rates on loans already taken after the law capping interest rates is repealed.

In the biggest concession yet to Parliament in a bid to scrap the interest rate capping law, lenders, through the Kenya Bankers Association (KBA), the sector lobby group, offered not to increase interest rates on current loans, as has been the practice in the past.

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