2015-07-08 | 1891274075

Microfinance Banking Circular No 2 of 2015 - Change of the Kenya Banks' Reference Rate (KBRR)

The Central Bank of Kenya (CBK) has revised the Kenya Banks' Reference Rate (KBRR) from 8.54% to 9.87%, effective July 7, 2015. All microfinance banks are required to price their flexible rate loans using KBRR as the base rate, with the interest rate charged to customers being KBRR plus an additional percentage. The CBK will work closely with banks and stakeholders to ensure smooth implementation and dissemination of information on the KBRR framework.

Kenya

Central Bank of Kenya

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