Kenya city skyline Kenya Supreme Court Decision May Spark Bank Lawsuits
The court decided interest rates on loans and bank facilities are subject to the Banking Act and can't be changed 'willy-nilly'.
June 28, 2024 at 11:58 AM
2 minute read
Banking and Finance
Kenya's Supreme Court has ruled that banks and financial institutions must get approval from the Treasury before altering interest rates, a decision likely to expose them to litigation as customers reassess existing loan agreements.
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