Regulatory Alerts2020-07-01
Added · Updated
Banking (Amendment) Act 2016
The Central Bank of Kenya issued this circular to implement the Banking (Amendment) Act 2016, which takes effect on September 14, 2016. The regulation designates the Central Bank Rate as the official base rate and sets a maximum interest cap at four percentage points above it. Commercial banks and mortgage finance companies must submit monthly monitoring returns within five working days of each month-end and finalize loan disclosure policies by September 30, 2016.
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