Business Daily | by Edwin Mutai
MPs Tuesday committed to enact a law that will compel the Central Bank of Kenya (CBK) to regulate monthly interest rates charged by digital mobile lenders and borrowers’ non-performing loans in honour of fallen Bonchari MP Oroo Oyioka.
Mr Oyioka had sponsored the Central Bank of Kenya (Amendment) Bill, 2020 that is before Parliament for debate.
A key aim of the Bill, which seeks to empower the banking regulator to supervise digital lenders for the first time, is to curb the steep digital lending rates…
