Government seeks to tighten noose on shylocks

Law attempts to bring into the fold hundreds of unregulated institutions and businesses.[File, Standard]

Shylocks and mobile lenders will soon be within the shooting range of regulators should a proposed law is approved.

Through the Financial Markets Conduct Bill, 2018, Treasury plans to aggressively go after all financial service providers, including those that have earned notoriety for thrusting poor Kenyans into hardship by heaping them with expensive pay-day loans.