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President Uhuru Kenyatta signed into law the controversial interest rates bill

24, Aug 2016

Bankers in the country are weighing their options after President Uhuru Kenyatta ignored their protests and signed into law the controversial interest rates bill. The law which caps interest rates at no more than 4 per cent above the Central Bank of Kenya rates, is the culmination of efforts that go back nearly 20 years. The president said he was responding to what he called the insensitivity of the financial sector to the plight of Kenyans.