×
App Icon
The Standard e-Paper
Home To Bold Columnists
★★★★ - on Play Store
Download App

Interest rate cap on loans unlikely to be scrapped anytime soon

Post Bank headquarters banking hall on 16th September 2016. PHOTO: Wilberforce Okwiri

The interest rate cap on loans is unlikely to be scrapped anytime soon despite the Central Bank's latest hint that the law could be repealed.

According to international rating agency Fitch Ratings, the regulation capping interest rates at four per cent above the Central Bank Rate (CBR) - currently at 10 per cent - is likely to undergo a revision and not total scrapping.

Get Full Access for Ksh299/Week.
Fact‑first reporting that puts you at the heart of the newsroom. Subscribe for full access.
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in