Gatundu South, Kiambu County, Member of Parliament Moses Kuria has proposed an amendment to the Banking Act which had capped the interest rates that banks can charge on loans at a lending cap to 10 per cent above the Central Bank Rate (CBR) .
In the amendment, Hon Kuria wants the interest rate cap to be raised by a margin to accommodate Kenyas Small and Medium Entreprises. The current law caps the rate to 4 per cent above the CBR.
This is very important for ADK.
https://kenyanwallstreet.com/moses-kuria-proposes-amendment-to-interest-rate-cap-as-loans-to-smes-shrink/