CBKSCulture Based Knowledge Sharing (Pakistan)
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CBK must balance market and consumer interests going forward, said Cofek secretary-general Stephen Mutoro earlier.Mr Rotichs comment came nearly two weeks after President Uhuru Kenyatta backed plans to review the interest rates cap law, saying the policy has failed to increase credit access to traders.
It is now obvious that actually that has not transpired and that is why we need to re-look that law, said President Kenyatta.The assertion by the Head of State came against the backdrop of a study by CBK on the impact of the rates cap law on the Kenyan economy which said the policy failed to achieve its objective of increasing credit access to SMEs by limiting the cost of borrowing for businesses and individuals.