After 16 years and three failed attempts at passing a bill to cap interest rates in Kenya, former MP Joe Donde’s dream has now become a reality. This week, we take a look at the Banking Amendment Act 2015, what it has changed about our banking and financial industry, the critique that has been leveled against it, and the possible outcomes moving forward.

Resources

The Banking (Amendment) Bill, 2015

Donde happy after MPs pass bill to cap interest rates

Larry Liza’s Viral Facebook Post

Controlling Interest: Are Ceilings On Interest Rates a Good Idea?

The Impact of Interest Rate Ceilings on Microfinance

Consider pros and cons of interest rates cap before passing banking Bill in haste

The Impact of Capping Interest Rates on the Kenyan Economy

Kenya should prepare for crisis and economic slowdown after capping interest rates

2015 Economic Survey Report Highlights

2014 Economic Survey Report Highlights

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