WebThis statement is made pursuant to Section 4(B) of the Central Bank of Kenya Amendment Act 1996, which states that: ... Source: Central Bank of Kenya 2000 Jun Jul Aug Sep Oct Nov Dec US $ 77.3 76.4 76.5 78.2 79.3 78.9 78.8 STG £ 117.0 115.4 113.9 112.0 115.2 112.5 114.9 http://www.kenyalaw.org:8181/exist/rest/db/kenyalex/Kenya/Legislation/English/Amendment%20Acts/No.%2010%20of%202495.pdf
Regulation of interest rates: Where are we? - Bowmans
WebFor purposes of section 33B (1) (a) which sets the maximum interest rate chargeable for a credit facility "at no more than four percent, the base rate set and published by the CBK" the cap will be set at four percentage points above the CBR. 3. The interest rates indicated in the Banking (Amendment) Act, 2016, will apply on an annual basis. 4. WebMar 17, 2024 · On 7 th December 2024, Parliament enacted The Central Bank of Kenya (Amendment) Act of 2024 effectively providing the Central Bank of Kenya (CBK) with the powers to license and oversight the previously unregulated digital credit providers. maine owl calls
Paged Banking Act Cap 488 - No. 9 of 1989 - Kenya Law …
WebApr 27, 2024 · The Central Bank of Kenya (Amendment) Bill, No. 10 of 2024 (the 2024 Bill) is Parliament’s most recent attempt to regulate digital credit service providers. If passed into law, the 2024 Bill will require the licencing of digital borrowing platforms in Kenya by the Central Bank of Kenya ( CBK ). WebIn the year 2001 President Daniel arap Moi vetoed the Central Bank of Kenya (Amendment) Bill 2000, more commonly referred to as the Donde Bill. The Bill was the first attempt by Parliament to rein in interest rates charged by financial institutions. WebFeb 1, 2024 · On the 23rd of December 2024, the Central Bank of Kenya (Amendment) Act ( CBK Amendment Act) came into force. It amends the Central Bank of Kenya Act ( CBK Act) by granting the Central Bank of Kenya ( CBK) regulatory jurisdiction over digital credit providers. maine overnight camps