Parliamentarians have begun talks on how to navigate through the interest rate caps riddle following a court ruling which gave the August House a year to end the row. The case followed a suit by two petitioners to have the rate caps lifted for stifling borrowing by SMEs. The National Assembly in 2016 amended the law to fix the amount of interest that banks could charge on loans and issue on customer deposits. “As one of the people who agreed to cap interest rates, I think it was important to listen to experts. Let us bring our proposals for review,” he said during a recent meeting of House leaders.

Source: The Star May 12, 2019 08:48 UTC