Business Daily | by Patrick Alushula
Commercial banks are accusing the Central Bank of Kenya (CBK) of capping lending rates after blocking their bid to raise the cost of loans despite Kenya having scrapped legal controls of credit charges on November 7, 2019.
The regulator had asked banks to submit new loan pricing formulas that would be the basis of setting interest rates on new credit in an environment where the government was not controlling loan costs.
Multiple bank executives told Business Daily that the CBK has…
