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Banks plot new war over interest rates

KBA CEO Habil Olaka addressing media during the Banking Amendment Act. (Photo: Wilberforce Okwiri/Standard)

Kenyan banks have plotted to woo new legislators into scrapping the cap on interest rates once crucial committees are formed.

Committees including Trade, Finance and Planning that has the mandate to review the rate cap have yet to be constituted following the standoff over the repeat elections as warring political factions stall Parliament’s business.

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