@BdAfrica

Banks won’t have to raise cost of loans - Oigara - 3 months ago, 21 Mar 21:42

Charles Mwaniki

Last week, the High Court struck out the rate cap law on the grounds it is unconstitutional, giving the National Assembly 12 months to review it. Banks have for long lobbied for the removal of the cap, hence the ruling is seen as a big win for them.

They still have work to do though to win over a sceptical public on the interest rate debate, and to show that the days of usury are behind them.

The Business Daily spoke to KCB Group #ticker:KCB chief executive officer Joshua Oigara, who is also the chairman of the Kenya Bankers Association governing council, on the emerging issues in the sector following the ruling.

THE HIGH COURT RULING ON THE RATE CAP LAW HAS SET THE STAGE FOR ITS REVIEW. WHAT IS YOUR VIEW ON THE IMPLICATIONS FOR BANKS AND THEIR CUSTOMERS ONCE IT IS DONE?

The ruling is welcome for us. There is, however, ...
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