2016-09-13 | 1456582762

Banking Circular No 4 of 2016 - The Banking Amendment Act 2016

The letter from the Central Bank of Kenya informs commercial banks and mortgage finance companies that the Banking (Amendment) Act, 2016 will come into effect on September 14, 2016, and outlines key provisions, including a cap on interest rates for credit facilities and requirements for disclosure of loan charges and terms. The CBK also emphasizes its commitment to further reforms for improving the credit market and enhancing the transmission of monetary policy.

Kenya

Central Bank of Kenya

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