Repeal of the Law Capping Interest Rates

In September 2016, the Parliament supported the interest rate cap that allowed banks to charge 4 percentage points above the central bank benchmark rate at 9 per cent. However, on 5 November 2019, the interest rate cap law was repealed after the President refused to assent into law Finance bill 2019. Uhuru directed the Parliament … Read more Repeal of the Law Capping Interest Rates