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Fines galore as Kenya's Treasury go after reckless lenders

Treasury Cabinet Secretary Henry Rotich (PHOTO: FILE)

NAIROBI, KENYA: Reckless lenders will be slapped with hefty fines, according to a proposed law that seeks to regulate all providers of financial products and services.

The financial markets conduct bill, 2018, which Treasury hopes will inject discipline into the financial sector is also deliberately tailored to convince lawmakers to drop their hard-stance on the controversial interest rate cap.

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