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MPs Direct CBK To Control Digital Lenders Loan Rates

MPs direct CBK to control digital lenders loan rates

Kenyan Digital Lenders and Microlenders to be Regulated

Parliament has asked the Central Bank of Kenya to publish regulations that will see interest rates charged by more than 500 unregulated digital microlenders controlled by the banking watchdog.

National Assembly’s Information, Communications and Technology (ICT) committee also wants the banking regulator to ensure the digital lenders are guided by the interest caps introduced in 2016.

 

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