MPs have offered the Central Bank of Kenya (CBK) express powers to control lending rates of digital mobile lenders under a proposed law that will see the regulator control their products, management, and sharing of borrower information.
The parliamentary committee on Finance and National Planning approved the Central Bank Amendment Bill 2021 and added a clause that gives the CBK powers to price interest rates for digital loans.
The parliamentary committee on Finance and National Planning approved the Central Bank Amendment Bill 2021 and added a clause that gives the CBK powers to price interest rates for digital loans.
