Members of Parliament have vowed to reject calls by the Central Bank of Kenya to repeal the law capping interest rates. However, these remarks were not received well by MPs from both sides of the political divide. According to Kiambu MP Jude Njomo, the law was introduced to mitigate exploitation and indiscipline of banks by overcharging customers. “We have seen SMEs lose as much as Sh13 billion in bank funding since this law came into force. Despite supporting the repeal, the association expressed its willingness to engage with policy makers and parliament to work on amendments that support all bank customers and banks.

Source: The Star September 14, 2017 21:22 UTC