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Law Capping interest rates
Rank: Elder Joined: 11/5/2010 Posts: 2,459
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bird_man wrote:Ericsson wrote:FRM2011 wrote:Any idea when the bill repealing this useless law will be debated ??
Will be harvesting season for our MPs. But the important thing is for the bill to pass and we all go backup yo building the nation. Debate starts tomorrow Wednesday 22 September August you mean. How can one follow up parliamentary debates ? Looking for any info on this bill but no success so far. By the way, if this bill doesn't go through and the bank's resume lending, we are staring at a possible recession. I don't remember liquidity being this tight. I don't mind someone bribing or threatening those MPs.
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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FRM2011 wrote:bird_man wrote:Ericsson wrote:FRM2011 wrote:Any idea when the bill repealing this useless law will be debated ??
Will be harvesting season for our MPs. But the important thing is for the bill to pass and we all go backup yo building the nation. Debate starts tomorrow Wednesday 22 September August you mean. How can one follow up parliamentary debates ? Looking for any info on this bill but no success so far. By the way, if this bill doesn't go through and the bank's resume lending, we are staring at a possible recession. I don't remember liquidity being this tight. I don't mind someone bribing or threatening those MPs. You can visit the gallery or the website which is uploaded in quite quick manner http://www.parliament.go...-assembly/house-business
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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Debate on finance bill at the floor of parliament is on Tuesday 28th August Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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https://www.bloomberg.co...t-bank-lending-to-state
A Kenyan lawmaker who successfully introduced a law capping interest rates is now proposing to limit how much the government can borrow from local commercial banks and wants a five-fold increase in the core capital the lenders hold. Lawmakers in East Africa’s biggest economy plan to introduce the changes in the Finance Bill 2018 to ensure that the public sector doesn’t crowd out businesses and personal lending, Member of Parliament Jude Njomo said by phone in the capital, Nairobi. In addition, the proposed changes that are yet to be introduced in parliament will eventually increase capital to 5 billion shillings ($49.7 million) in three years’ time from 1 billion shillings. Commercial banks will be required to double their minimum capital to 2 billion shillings by the end of 2019 and 3.5 billion shillings by 2020, he said. Profit for Kenyan lenders climbed as much as 18 percent, despite an interest-rate cap that pegs the commercial lending rates to the benchmark policy rate. The International Monetary Fund has criticized the ceiling that was introduced in 2016 and said it should be repealed if the government is to continue accessing a precautionary facility that cushions it against exogenous shocks to its balance of payments. The lawmakers are also lobbying for the removal of an amendment in the Finance Bill to repeal the rate-cap law, Njomo said. “We are not convinced that the banks have changed, in fact they have changed for the worse,” Njomo said. “What they have done is to gang up to arm-twist the government so that they can ensure the rate caps are removed. This is tantamount to economic sabotage.” Government Securities Kenya borrowed 273.7 billion shillings from the domestic market in the 2017-18 fiscal year, 10 percent more than initially budgeted, according to the Treasury. BMI Research, a unit of Fitch Group, estimates the nation’s debt will increase to more than 60 percent of gross domestic product in 2018. Banks held government debt of 1.27 trillion shillings in the first half, 11 percent more than a year earlier, according to the Treasury. Private sector credit growth decelerated to 2.4 percent in 2017, the slowest growth since 2005, according to the central bank. In 2016, banks asked regulators for two years before the government can reintroduce plans to increase the core capital to 5 billion shillings, within which time two banks have failed, Njomo said. While Spire Bank and government-owned Consolidated Bank of Kenya Ltd. are still below the minimum requirement, 19 lenders hold more than 5 billion shillings of capital, according to the central bank. Another amendment lawmakers will prepare is to have banks lending at least 20 percent of their loan books to small- and medium-sized enterprises, Njomo said. If they fail, “there’ll be some punishment” in fines, he said. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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Ericsson wrote:https://www.bloomberg.com/news/articles/2018-08-23/kenyan-rate-cap-champion-wants-to-limit-bank-lending-to-state
A Kenyan lawmaker who successfully introduced a law capping interest rates is now proposing to limit how much the government can borrow from local commercial banks and wants a five-fold increase in the core capital the lenders hold.
Lawmakers in East Africa’s biggest economy plan to introduce the changes in the Finance Bill 2018 to ensure that the public sector doesn’t crowd out businesses and personal lending, Member of Parliament Jude Njomo said by phone in the capital, Nairobi.
In addition, the proposed changes that are yet to be introduced in parliament will eventually increase capital to 5 billion shillings ($49.7 million) in three years’ time from 1 billion shillings. Commercial banks will be required to double their minimum capital to 2 billion shillings by the end of 2019 and 3.5 billion shillings by 2020, he said.
Profit for Kenyan lenders climbed as much as 18 percent, despite an interest-rate cap that pegs the commercial lending rates to the benchmark policy rate. The International Monetary Fund has criticized the ceiling that was introduced in 2016 and said it should be repealed if the government is to continue accessing a precautionary facility that cushions it against exogenous shocks to its balance of payments.
The lawmakers are also lobbying for the removal of an amendment in the Finance Bill to repeal the rate-cap law, Njomo said.
“We are not convinced that the banks have changed, in fact they have changed for the worse,” Njomo said. “What they have done is to gang up to arm-twist the government so that they can ensure the rate caps are removed. This is tantamount to economic sabotage.”
Government Securities
Kenya borrowed 273.7 billion shillings from the domestic market in the 2017-18 fiscal year, 10 percent more than initially budgeted, according to the Treasury. BMI Research, a unit of Fitch Group, estimates the nation’s debt will increase to more than 60 percent of gross domestic product in 2018.
Banks held government debt of 1.27 trillion shillings in the first half, 11 percent more than a year earlier, according to the Treasury. Private sector credit growth decelerated to 2.4 percent in 2017, the slowest growth since 2005, according to the central bank.
In 2016, banks asked regulators for two years before the government can reintroduce plans to increase the core capital to 5 billion shillings, within which time two banks have failed, Njomo said. While Spire Bank and government-owned Consolidated Bank of Kenya Ltd. are still below the minimum requirement, 19 lenders hold more than 5 billion shillings of capital, according to the central bank.
Another amendment lawmakers will prepare is to have banks lending at least 20 percent of their loan books to small- and medium-sized enterprises, Njomo said. If they fail, “there’ll be some punishment” in fines, he said. Too many moving parts with the Kenya financial sector.. I sit outside and watch keenly
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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Ericsson wrote:https://www.bloomberg.com/news/articles/2018-08-23/kenyan-rate-cap-champion-wants-to-limit-bank-lending-to-state
A Kenyan lawmaker who successfully introduced a law capping interest rates is now proposing to limit how much the government can borrow from local commercial banks and wants a five-fold increase in the core capital the lenders hold.
Lawmakers in East Africa’s biggest economy plan to introduce the changes in the Finance Bill 2018 to ensure that the public sector doesn’t crowd out businesses and personal lending, Member of Parliament Jude Njomo said by phone in the capital, Nairobi.
In addition, the proposed changes that are yet to be introduced in parliament will eventually increase capital to 5 billion shillings ($49.7 million) in three years’ time from 1 billion shillings. Commercial banks will be required to double their minimum capital to 2 billion shillings by the end of 2019 and 3.5 billion shillings by 2020, he said.
Profit for Kenyan lenders climbed as much as 18 percent, despite an interest-rate cap that pegs the commercial lending rates to the benchmark policy rate. The International Monetary Fund has criticized the ceiling that was introduced in 2016 and said it should be repealed if the government is to continue accessing a precautionary facility that cushions it against exogenous shocks to its balance of payments.
The lawmakers are also lobbying for the removal of an amendment in the Finance Bill to repeal the rate-cap law, Njomo said.
“We are not convinced that the banks have changed, in fact they have changed for the worse,” Njomo said. “What they have done is to gang up to arm-twist the government so that they can ensure the rate caps are removed. This is tantamount to economic sabotage.”
Government Securities
Kenya borrowed 273.7 billion shillings from the domestic market in the 2017-18 fiscal year, 10 percent more than initially budgeted, according to the Treasury. BMI Research, a unit of Fitch Group, estimates the nation’s debt will increase to more than 60 percent of gross domestic product in 2018.
Banks held government debt of 1.27 trillion shillings in the first half, 11 percent more than a year earlier, according to the Treasury. Private sector credit growth decelerated to 2.4 percent in 2017, the slowest growth since 2005, according to the central bank.
In 2016, banks asked regulators for two years before the government can reintroduce plans to increase the core capital to 5 billion shillings, within which time two banks have failed, Njomo said. While Spire Bank and government-owned Consolidated Bank of Kenya Ltd. are still below the minimum requirement, 19 lenders hold more than 5 billion shillings of capital, according to the central bank.
Another amendment lawmakers will prepare is to have banks lending at least 20 percent of their loan books to small- and medium-sized enterprises, Njomo said. If they fail, “there’ll be some punishment” in fines, he said. Jeez! What are these parliamentarians smoking?! The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,569
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Like we said interest rates capping is not happening this year now linked to KBRR Quote:“Section 33B of the Banking Act is amended by deleting subsection (1) and substituting therefore the following new subsection,” read part of the Joseph Limo-led committee’s report tabled yesterday in Parliament. “A bank or financial institution shall set the maximum interest rate chargeable for a credit facility in Kenya at no more than four per cent above the base rate set and published by the KBRR.” The committee had resisted the Government’s and International Monetary Fund’s (IMF) aggressive push for the removal of the interest rate cap. This is a major to blow to banks that have been lobbying for the removal of the rate cap, arguing that credit available to micro, small and medium enterprises (MSMEs) has shrunk. Read more at: https://www.standardmedi...mps-retain-law-on-rates
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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wukan wrote:Like we said interest rates capping is not happening this year now linked to KBRR Quote:“Section 33B of the Banking Act is amended by deleting subsection (1) and substituting therefore the following new subsection,” read part of the Joseph Limo-led committee’s report tabled yesterday in Parliament. “A bank or financial institution shall set the maximum interest rate chargeable for a credit facility in Kenya at no more than four per cent above the base rate set and published by the KBRR.” The committee had resisted the Government’s and International Monetary Fund’s (IMF) aggressive push for the removal of the interest rate cap. This is a major to blow to banks that have been lobbying for the removal of the rate cap, arguing that credit available to micro, small and medium enterprises (MSMEs) has shrunk. Read more at: https://www.standardmedi...mps-retain-law-on-rates This is farcical to say the least. The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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wukan wrote:Like we said interest rates capping is not happening this year now linked to KBRR Quote:“Section 33B of the Banking Act is amended by deleting subsection (1) and substituting therefore the following new subsection,” read part of the Joseph Limo-led committee’s report tabled yesterday in Parliament. “A bank or financial institution shall set the maximum interest rate chargeable for a credit facility in Kenya at no more than four per cent above the base rate set and published by the KBRR.” The committee had resisted the Government’s and International Monetary Fund’s (IMF) aggressive push for the removal of the interest rate cap. This is a major to blow to banks that have been lobbying for the removal of the rate cap, arguing that credit available to micro, small and medium enterprises (MSMEs) has shrunk. Read more at: https://www.standardmedi...mps-retain-law-on-rates And there you have it. KBRR was previously what was being used plus a factor K that banks were at free will to set it. Now K has been set at 4% maximum. Next you will see KBRR rise to 12%. KBRR is also set by the banks. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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lochaz-index wrote:wukan wrote:Like we said interest rates capping is not happening this year now linked to KBRR Quote:“Section 33B of the Banking Act is amended by deleting subsection (1) and substituting therefore the following new subsection,” read part of the Joseph Limo-led committee’s report tabled yesterday in Parliament. “A bank or financial institution shall set the maximum interest rate chargeable for a credit facility in Kenya at no more than four per cent above the base rate set and published by the KBRR.” The committee had resisted the Government’s and International Monetary Fund’s (IMF) aggressive push for the removal of the interest rate cap. This is a major to blow to banks that have been lobbying for the removal of the rate cap, arguing that credit available to micro, small and medium enterprises (MSMEs) has shrunk. Read more at: https://www.standardmedi...mps-retain-law-on-rates This is farcical to say the least.  This country of ours.
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Rank: Hello Joined: 1/27/2017 Posts: 4
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FACTS ABOUT THE KENYA BANKS REFERENCE RATE
What is Kenya Banks Reference Rate?
The Kenya Banks’ Reference Rate (KBRR) was introduced in July 2014 following
discussions between commercial and microfinance banks, mortgage finance institutions,
Kenya Bankers Association (KBA), Central Bank of Kenya (CBK), and The National
Treasury. It is part of their recommendations to explore ways of enhancing the supply of
private sector credit and mortgage finance in Kenya. The primary purpose of the KBRR
is to ensure that banks are transparent with respect to the cost and pricing of their
products. This is made possible through the KBRR framework that requires banks to
disclose and explain to their customers the effective base rate (KBRR) and any
additional premium (K) above the base rate. This premium is to be broken down to
enable clients to understand its components. This also allows the Government and the
Central Bank to make targeted policy interventions to lower the premium.
Computation of KBRR
KBRR is computed as an average of (a) the Central Bank Rate (CBR) and (b) the 2-
month weighted moving average of the 91-day Treasury bill rate. The 91-day Treasury
bills reflects the floor of risk free assets while CBR reflects the stance of monetary
policy. A customer should therefore expect to be charged a lending rate of KBRR + ‘K’.
The KBRR should be seen as the minimum price for banks to participate in the credit
market. The charges may relate to the individual customer’s risk profile, the type of loan
or the risks associated with the investment. These factors may vary from customer to
customer depending on the individual ratings reports from Credit Reference Bureaus
(CRBs). It also means that any charges above KBRR must be explained to the customer.
The charges above KBRR must also be explained to the CBK so that policy or
administrative interventions such as the collateral process and charges can be effected to
create a level playing field, thereby increasing the supply of credit in the economy.
Operationalization of the KBRR
The KBRR is reviewed and announced by the CBK through the Monetary Policy
Committee (MPC) Press Release after its meeting every six months from the effective
date and is operationalized through Banking Circulars. At its inception on 8 th July, 2014
the CBK computed and set the KBRR at 9.13 percent. It was reviewed to 8.54 per cent
on 14 th January, 2015 following a reduction in the 2-month weighted moving average of
the 91-day Treasury bill rate. To further enhance transparency, in the future, the
Central Bank will publish comparative data on ‘K’ for various loan products
offered by banks. This will facilitate decision making by customers and promote
competition in credit pricing .
THE TRANSMISSION OF MONETARY POLICY - THE ROLE OF THE
KENYA BANKS’ REFERENCE RATE (KBRR)
Monetary Policy Transmission refers to the process through which monetary policy
decisions affect the economy in general and the price level in particular. It therefore
refers to various channels through which monetary policy alters prices or output in the
real economy.
The Kenya Banks’ Reference Rate (KBRR) is the base rate for lending by commercial
banks and microfinance banks as well as for pricing mortgage products. Since one of the
components of the KBRR is the Central Bank Rate (CBR), movements in the KBRR
will enhance the monetary policy transmission through the lending rate channel. Studies
on the transmission of monetary policy via the lending rate have shown that movements
in the CBR, which reflect the monetary policy stance, affect the inflation profile and
economic activity.
One of the advantages of the KBRR framework is that it minimises information search
costs since all banks have the same base rate. In addition, the efficiency in pricing credit
ought to allow for competition and a level playing field. However, while the direction
and pace of changes in lending interest rates are influenced by changes in the KBRR, it
is important to note that there is no one-to-one correspondence between KBRR and
lending rates, due to risk profile differences between individual clients, sectors and types
of loans. Therefore, the value of ‘K’ above the KBRR will depend on various factors
such as the lender’s perceived customer risk profile, speed and cost of collateral
perfection at the Lands Registry, and other costs arising from the due diligence
processes. The CBK, KBA, and National Treasury are working with the relevant
stakeholders to ensure that the factors that increase lending rates above KBRR are
addressed. The CBK would like to parade and analyse these factors over time, in order
to inform policy. Consequently, administrative and policy interventions as well as legal
amendments will enable the financial system to increase the supply of credit and avail
mortgages at affordable rates, while enhancing competition in the market.
CENTRAL BANK OF KENYA
FEBRUARY 2015
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Rank: Veteran Joined: 11/13/2015 Posts: 1,569
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Ericsson wrote:wukan wrote:Like we said interest rates capping is not happening this year now linked to KBRR Quote:“Section 33B of the Banking Act is amended by deleting subsection (1) and substituting therefore the following new subsection,” read part of the Joseph Limo-led committee’s report tabled yesterday in Parliament. “A bank or financial institution shall set the maximum interest rate chargeable for a credit facility in Kenya at no more than four per cent above the base rate set and published by the KBRR.” The committee had resisted the Government’s and International Monetary Fund’s (IMF) aggressive push for the removal of the interest rate cap. This is a major to blow to banks that have been lobbying for the removal of the rate cap, arguing that credit available to micro, small and medium enterprises (MSMEs) has shrunk. Read more at: https://www.standardmedi...mps-retain-law-on-rates And there you have it. KBRR was previously what was being used plus a factor K that banks were at free will to set it. Now K has been set at 4% maximum. Next you will see KBRR rise to 12%. KBRR is also set by the banks. That was part of the discussion that KBRR is really a banker's tool so they plan to introduce further amendments on the floor on tuesday. I think only the cap on interest on deposits will go and the loan cap will be tied to CBR
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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Ericsson wrote:https://www.bloomberg.com/news/articles/2018-08-23/kenyan-rate-cap-champion-wants-to-limit-bank-lending-to-state
A Kenyan lawmaker who successfully introduced a law capping interest rates is now proposing to limit how much the government can borrow from local commercial banks and wants a five-fold increase in the core capital the lenders hold.
Lawmakers in East Africa’s biggest economy plan to introduce the changes in the Finance Bill 2018 to ensure that the public sector doesn’t crowd out businesses and personal lending, Member of Parliament Jude Njomo said by phone in the capital, Nairobi.
In addition, the proposed changes that are yet to be introduced in parliament will eventually increase capital to 5 billion shillings ($49.7 million) in three years’ time from 1 billion shillings. Commercial banks will be required to double their minimum capital to 2 billion shillings by the end of 2019 and 3.5 billion shillings by 2020, he said.
Profit for Kenyan lenders climbed as much as 18 percent, despite an interest-rate cap that pegs the commercial lending rates to the benchmark policy rate. The International Monetary Fund has criticized the ceiling that was introduced in 2016 and said it should be repealed if the government is to continue accessing a precautionary facility that cushions it against exogenous shocks to its balance of payments.
The lawmakers are also lobbying for the removal of an amendment in the Finance Bill to repeal the rate-cap law, Njomo said.
“We are not convinced that the banks have changed, in fact they have changed for the worse,” Njomo said. “What they have done is to gang up to arm-twist the government so that they can ensure the rate caps are removed. This is tantamount to economic sabotage.”
Government Securities
Kenya borrowed 273.7 billion shillings from the domestic market in the 2017-18 fiscal year, 10 percent more than initially budgeted, according to the Treasury. BMI Research, a unit of Fitch Group, estimates the nation’s debt will increase to more than 60 percent of gross domestic product in 2018.
Banks held government debt of 1.27 trillion shillings in the first half, 11 percent more than a year earlier, according to the Treasury. Private sector credit growth decelerated to 2.4 percent in 2017, the slowest growth since 2005, according to the central bank.
In 2016, banks asked regulators for two years before the government can reintroduce plans to increase the core capital to 5 billion shillings, within which time two banks have failed, Njomo said. While Spire Bank and government-owned Consolidated Bank of Kenya Ltd. are still below the minimum requirement, 19 lenders hold more than 5 billion shillings of capital, according to the central bank.
Another amendment lawmakers will prepare is to have banks lending at least 20 percent of their loan books to small- and medium-sized enterprises, Njomo said. If they fail, “there’ll be some punishment” in fines, he said. I am really liking this Jude Njomo, whats his background, to me he sounds like someone looking for a solution. The amendments to restrict the govt borrowing in the domestic market and to require banks to lend to SME's is most welcome. I would however not restrict the govt to borrow but rather cap the amount a bank can invest in govt securities based on a proportion to total loans. Banks have yoy since the introduction of the rate cap made increased profits, so they should say nothing about inability to return profits. Whats left now is for the govt, to compell them to lend to qualifying wananchi through fiscal policy like the one proposed above. "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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If the bank dont lend to GoK there will be no need for you to borrow as the nation will collapse. Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Obi 1 Kanobi wrote:Ericsson wrote:https://www.bloomberg.com/news/articles/2018-08-23/kenyan-rate-cap-champion-wants-to-limit-bank-lending-to-state
A Kenyan lawmaker who successfully introduced a law capping interest rates is now proposing to limit how much the government can borrow from local commercial banks and wants a five-fold increase in the core capital the lenders hold.
Lawmakers in East Africa’s biggest economy plan to introduce the changes in the Finance Bill 2018 to ensure that the public sector doesn’t crowd out businesses and personal lending, Member of Parliament Jude Njomo said by phone in the capital, Nairobi.
In addition, the proposed changes that are yet to be introduced in parliament will eventually increase capital to 5 billion shillings ($49.7 million) in three years’ time from 1 billion shillings. Commercial banks will be required to double their minimum capital to 2 billion shillings by the end of 2019 and 3.5 billion shillings by 2020, he said.
Profit for Kenyan lenders climbed as much as 18 percent, despite an interest-rate cap that pegs the commercial lending rates to the benchmark policy rate. The International Monetary Fund has criticized the ceiling that was introduced in 2016 and said it should be repealed if the government is to continue accessing a precautionary facility that cushions it against exogenous shocks to its balance of payments.
The lawmakers are also lobbying for the removal of an amendment in the Finance Bill to repeal the rate-cap law, Njomo said.
“We are not convinced that the banks have changed, in fact they have changed for the worse,” Njomo said. “What they have done is to gang up to arm-twist the government so that they can ensure the rate caps are removed. This is tantamount to economic sabotage.”
Government Securities
Kenya borrowed 273.7 billion shillings from the domestic market in the 2017-18 fiscal year, 10 percent more than initially budgeted, according to the Treasury. BMI Research, a unit of Fitch Group, estimates the nation’s debt will increase to more than 60 percent of gross domestic product in 2018.
Banks held government debt of 1.27 trillion shillings in the first half, 11 percent more than a year earlier, according to the Treasury. Private sector credit growth decelerated to 2.4 percent in 2017, the slowest growth since 2005, according to the central bank.
In 2016, banks asked regulators for two years before the government can reintroduce plans to increase the core capital to 5 billion shillings, within which time two banks have failed, Njomo said. While Spire Bank and government-owned Consolidated Bank of Kenya Ltd. are still below the minimum requirement, 19 lenders hold more than 5 billion shillings of capital, according to the central bank.
Another amendment lawmakers will prepare is to have banks lending at least 20 percent of their loan books to small- and medium-sized enterprises, Njomo said. If they fail, “there’ll be some punishment” in fines, he said. I am really liking this Jude Njomo, whats his background, to me he sounds like someone looking for a solution. The amendments to restrict the govt borrowing in the domestic market and to require banks to lend to SME's is most welcome. I would however not restrict the govt to borrow but rather cap the amount a bank can invest in govt securities based on a proportion to total loans. Banks have yoy since the introduction of the rate cap made increased profits, so they should say nothing about inability to return profits. Whats left now is for the govt, to compell them to lend to qualifying wananchi through fiscal policy like the one proposed above. That cap on govt securities VS total loan book would work... possunt quia posse videntur
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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The amount of information here is more valuable than in the business daily Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/23/2014 Posts: 903
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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obiero wrote:Ericsson wrote:obiero wrote:obiero wrote:obiero wrote:Spikes wrote:obiero wrote:mlennyma wrote:obiero wrote:murchr wrote:obiero wrote:Angelica _ann wrote:Wow KCB headed to 70bob!!! Kenya Govt and the People of Kenya are distinct Layman English please The law won’t be reversed to repeal is to abolish/anull a law or an act of parliament. .prophet obiero you mean this word was used wrongly ? I mean that it was a political response to IMF that will not garner real political support in the House. To repeal it cannot be via twitter feeds, this thing is hardcoded in wanjiku who prefers no debt to the mercinary rates that were being bandied by Kenyan banks It should be mercenary. The problem emanates from attending shithole schools where a young bugger used to receive instructions under a tree inside squalid makeshift structures. It was written.. MPs will not support the amendment via orders from above! Anyone still waiting for a repeal? Bank margins continue being squeezed via the main income line being lending.. It's not easy for the Kenyan financial industry right now. Expect more consolidation Watch and learn. No MP will risk loosing the next term https://www.businessdail...1546-ki208bz/index.html
I think the opposite will happen,the bill to repeal/ammend the interest rates cap law will sail through Already the signs are ominous.. Talk to your legislative friends, if you have any The exchange bar is never wrong.. No MP could risk his/her name being on the offensive side against wanjiku.. The ayes have it!
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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Too fluid a situation.. Bank stocks could easily tumble down once again.. Imagine KCB at KES 32, COOP at KES 9.. https://www.businessdail...28286-qqtruwz/index.html
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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niko sawa kama mwananchi . punda amecheka
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