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Jamii Bora Bank has been ordered to pay Vehicle and Equipment Leasing (Vaell) Sh8 million for interest it overcharged the firm on a loan.
In the court ruling documents seen by The Standard, the court established that the lender had overcharged Vaell interest rates of up to 28 per cent - double the 14 per cent set by the law capping interest rate charged by financial institutions.
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