Kenyan parliament passes bank bill on 2nd reading

Kenya's parliament passed a controversial bill seeking to regulate commercial bank loan rates on its second reading on Wednesday, but politicians said amendments would be tabled to the bill on Thursday.

In its current form, the bill would limit commercial bank lending rates to three percentage points over Kenya's 91-day treasury bill rate, a move which critics say could dry up credit and cause the shilling to fall sharply. Bank lending rates are between 25% and 30% while the 91-day T-bill yiel