Kenya banks take govt to court over rate law

KENYA - Kenyan banks have taken the government to court to challenge a new law to regulate interest rates, as it would apply retroactively to loans already issued, officials said on 21 August.

The Kenya Bankers Association (KBA), on behalf of 48 banks, has challenged the law because it would cut interest rates on all loans issued since January 1 and reduce bank profits.

The case, which names Finance Minister Chris Okemo and Attorney-General Amos Wako as respondents, will be heard at Kenya's High

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.