Kenyan banks forced to reveal hidden loan fees

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Banks in Kenya will be forced to disclose any extra fees attached to loans from September 1, as the country’s central bank looks to lay the ground for the removal of interest rate caps.

“[The] CBK now mandates all commercial banks to upload their respective internal and external fees for all products on the cost-of-credit website to enable customers make rational financial decisions,” the central bank announced, as part of a new banking sector charter.

In May 2017, the central bank and Kenya’s

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