×
App Icon
The Standard e-Paper
Smart Minds Choose Us
★★★★ - on Play Store
Download App

Capping lending rates disastrous for economy, banks say

Kenya Bankers Association CEO Habil Olaka

Banks have staged a frantic fight to block the hugely popular move by Parliament to cap lending rates.

In a meeting called only hours before the National Assembly passed the critical amendments, banking executives warned that using the law to regulate interest rates would be tragic for the wider economy.

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