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Law Capping interest rates
Rank: Veteran Joined: 12/11/2006 Posts: 930
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Ericsson wrote:ngapat wrote:maka wrote:@ngapat please let us know if they paid...this banks are crafty like @AA pointed out. No payment yet. I had been receiving interests on my savings account every year since 2008 and I've not changed my account Forced to transactional account that has no interest Forced transactional account it is. “Invest in yourself. Your career is the engine of your wealth.”
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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ngapat wrote:Ericsson wrote:ngapat wrote:maka wrote:@ngapat please let us know if they paid...this banks are crafty like @AA pointed out. No payment yet. I had been receiving interests on my savings account every year since 2008 and I've not changed my account Forced to transactional account that has no interest Forced transactional account it is. Pole  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 10/18/2008 Posts: 3,434 Location: Kerugoya
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Razia Khan, The deeply respected Regional Head of Economics, Africa, at Standard Chartered Bank has this to say: Rink:Quote:Populist policies have also played a role in weakening the performance of the financial sector.
In Kenya, the full impact of the adoption of loan rate caps and regulated loan-deposit spreads, introduced in 2016, will only be seen in 2017 or beyond.
Banks now face a maximum rate at which they are able to lend to clients.
Wherever loan rate caps have been introduced in the past, the effect has been the same.
If banks cannot price adequately for risk, they withdraw their lending, choosing to lend only to the safest and most established borrowers.
Small and medium enterprises as well as new start-ups with no established credit histories will likely face the brunt of this, meaning several growth and employment opportunities will be forgone somewhat needlessly.
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Rank: Elder Joined: 6/23/2009 Posts: 14,256 Location: nairobi
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aemathenge wrote:Razia Khan, The deeply respected Regional Head of Economics, Africa, at Standard Chartered Bank has this to say: Rink:Quote:Populist policies have also played a role in weakening the performance of the financial sector.
In Kenya, the full impact of the adoption of loan rate caps and regulated loan-deposit spreads, introduced in 2016, will only be seen in 2017 or beyond.
Banks now face a maximum rate at which they are able to lend to clients.
Wherever loan rate caps have been introduced in the past, the effect has been the same.
If banks cannot price adequately for risk, they withdraw their lending, choosing to lend only to the safest and most established borrowers.
Small and medium enterprises as well as new start-ups with no established credit histories will likely face the brunt of this, meaning several growth and employment opportunities will be forgone somewhat needlessly. This was obvious to pedestrian observers including @spikes and @vvs
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Rank: Elder Joined: 10/18/2008 Posts: 3,434 Location: Kerugoya
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obiero wrote:aemathenge wrote:Razia Khan, The deeply respected Regional Head of Economics, Africa, at Standard Chartered Bank has this to say: Rink:Quote:Populist policies have also played a role in weakening the performance of the financial sector.
In Kenya, the full impact of the adoption of loan rate caps and regulated loan-deposit spreads, introduced in 2016, will only be seen in 2017 or beyond.
Banks now face a maximum rate at which they are able to lend to clients.
Wherever loan rate caps have been introduced in the past, the effect has been the same.
If banks cannot price adequately for risk, they withdraw their lending, choosing to lend only to the safest and most established borrowers.
Small and medium enterprises as well as new start-ups with no established credit histories will likely face the brunt of this, meaning several growth and employment opportunities will be forgone somewhat needlessly. This was obvious to pedestrian observers including @spikes and @vvs But not to Kenia001
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Rank: Elder Joined: 6/23/2009 Posts: 14,256 Location: nairobi
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aemathenge wrote:obiero wrote:aemathenge wrote:Razia Khan, The deeply respected Regional Head of Economics, Africa, at Standard Chartered Bank has this to say: Rink:Quote:Populist policies have also played a role in weakening the performance of the financial sector.
In Kenya, the full impact of the adoption of loan rate caps and regulated loan-deposit spreads, introduced in 2016, will only be seen in 2017 or beyond.
Banks now face a maximum rate at which they are able to lend to clients.
Wherever loan rate caps have been introduced in the past, the effect has been the same.
If banks cannot price adequately for risk, they withdraw their lending, choosing to lend only to the safest and most established borrowers.
Small and medium enterprises as well as new start-ups with no established credit histories will likely face the brunt of this, meaning several growth and employment opportunities will be forgone somewhat needlessly. This was obvious to pedestrian observers including @spikes and @vvs But not to Kenia001 LOL
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Rank: Elder Joined: 7/22/2009 Posts: 7,872
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obiero wrote:aemathenge wrote:Razia Khan, The deeply respected Regional Head of Economics, Africa, at Standard Chartered Bank has this to say: Rink:Quote:Populist policies have also played a role in weakening the performance of the financial sector.
In Kenya, the full impact of the adoption of loan rate caps and regulated loan-deposit spreads, introduced in 2016, will only be seen in 2017 or beyond.
Banks now face a maximum rate at which they are able to lend to clients.
Wherever loan rate caps have been introduced in the past, the effect has been the same.
If banks cannot price adequately for risk, they withdraw their lending, choosing to lend only to the safest and most established borrowers.
Small and medium enterprises as well as new start-ups with no established credit histories will likely face the brunt of this, meaning several growth and employment opportunities will be forgone somewhat needlessly. This was obvious to pedestrian observers including @spikes and @vvs It was not @Obiero. This has been one of the main arguments on this thread. We have been trying to tell people this will definitely happen but they have been saying never ever and even telling us their M-shwari maximum loans have been increased! But may be now that the heat has hit the M-Shwari kitchen, they might finally see the light. But I am not holding my breath. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 7/22/2009 Posts: 7,872
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Problem: President Uhuru will probably not reverse these before the election for obvious reasons and after the elections, we don't know who will be the president and whether he or she will have the tyranny of numbers in parliament. The country might be screwed longer than we anticipate and for what??? Political reasons!!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,654
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MaichBlack wrote:Problem: President Uhuru will probably not reverse these before the election for obvious reasons and after the elections, we don't know who will be the president and whether he or she will have the tyranny of numbers in parliament.
The country might be screwed longer than we anticipate and for what??? Political reasons!!! Forget about the reversing of the rate caps, it received strong support even from CORD. The earliest you will see the lifting of the caps is around the year 2021. Uhuru will win the re-election even with massive voter apathy. This is Zambia voter apathy with rate caps in 2015 Quote:In her final remarks Electoral Commission of Zambia (ECZ) Chairperson, Justice Ireen Mambilima, said the average voter turnout in the recent presidential by-election was about 33 per cent. In some constituencies, out of about 33, 000 registered voters, one learns that only about 8, 000 registered voters actually voted. Justice Mambilima said this was the lowest voter turnout Zambia has ever experienced for many years.
While a winner in such high voter apathy political elections can celebrate having won a political election, it is clear that such a winner wins with a minority vote. Such a vote doesn’t give a winner confidence that one is a popular political representative in a given area. Such a situation threatens democracy dispensation as democracy promotes majority rule. This is the voter turnout after lifting of the rate caps 2016 Quote:Zambians have turned out in large numbers to vote in the general elections, observers say is the closest contest in the country’s history.
Most polling stations opened at 06:30 Hours and are expected to close at 18 Hours in the evening.
Some voters in the capital Lusaka made their way to the polling stations as early as 04 Hours.
Many observers have said the early turn out might cast doubts of voter apathy which has characterised the recent elections in Zambia.
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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wukan wrote:MaichBlack wrote:Problem: President Uhuru will probably not reverse these before the election for obvious reasons and after the elections, we don't know who will be the president and whether he or she will have the tyranny of numbers in parliament.
The country might be screwed longer than we anticipate and for what??? Political reasons!!! Forget about the reversing of the rate caps, it received strong support even from CORD. The earliest you will see the lifting of the caps is around the year 2021. Uhuru will win the re-election even with massive voter apathy. This is Zambia voter apathy with rate caps in 2015 Quote:In her final remarks Electoral Commission of Zambia (ECZ) Chairperson, Justice Ireen Mambilima, said the average voter turnout in the recent presidential by-election was about 33 per cent. In some constituencies, out of about 33, 000 registered voters, one learns that only about 8, 000 registered voters actually voted. Justice Mambilima said this was the lowest voter turnout Zambia has ever experienced for many years.
While a winner in such high voter apathy political elections can celebrate having won a political election, it is clear that such a winner wins with a minority vote. Such a vote doesn’t give a winner confidence that one is a popular political representative in a given area. Such a situation threatens democracy dispensation as democracy promotes majority rule. This is the voter turnout after lifting of the rate caps 2016Quote:Zambians have turned out in large numbers to vote in the general elections, observers say is the closest contest in the country’s history.
Most polling stations opened at 06:30 Hours and are expected to close at 18 Hours in the evening.
Some voters in the capital Lusaka made their way to the polling stations as early as 04 Hours.
Many observers have said the early turn out might cast doubts of voter apathy which has characterised the recent elections in Zambia. They vote yearly? If Obiero did it, Who Am I?
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