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Law Capping interest rates
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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Njung'e wrote:@Wazuans,
How do our interest rates compare with those of our region/continent?. Anyone? In Uganda CBR is at 16% p.a. and Banks are at 25% p.a. base rate... Unsecured borrowing is at 30% p.a. + So stop crying.... Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 9/23/2010 Posts: 2,220 Location: Sundowner,Amboseli
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tom_boy wrote:Rate controll may not benefit Wanjiku but it will benefit business and Government. With rate controll, Government does not have to increase T bill rates to attract banks to buy. With very few wanjikus to qualify for 14% rate loans, yet the bank has to pay 7% on deposits, the bank would rather buy t bills at 10- 11 % than sit with the money earning nothing. Goverment will be spoiled for choice with too much cash chasing few t bills. If bank does not take the deposits from wanjiku ( foolish move), government will borrow directly from wanjiku.
Only an insane President , will not sign this bill. Or one driven by self interest and thuggish motives. Refreshing @SufficientlyP
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Rank: Elder Joined: 6/23/2009 Posts: 13,519 Location: nairobi
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josimar wrote:In developed economies such as Japan , mortgage rates are offered at 1% and tenor is 30 Years . Why are people still on this.. The bill will be signed and big banks will continue to thrive. Small ones are likely to die a national death
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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guru267 wrote:Njung'e wrote:@Wazuans,
How do our interest rates compare with those of our region/continent?. Anyone? In Uganda CBR is at 16% p.a. and Banks are at 25% p.a. base rate... Unsecured borrowing is at 30% p.a. + So stop crying.... Eish shemeji, si unakuanga na maajibu ya kushangaza. Maajibu ya Kata na shoka.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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obiero wrote:josimar wrote:In developed economies such as Japan , mortgage rates are offered at 1% and tenor is 30 Years . Why are people still on this.. The bill will be signed and big banks will continue to thrive. Small ones are likely to die a national death @josimar...Japans interest rates are at 1% yes, because the economy is on slow puncture. No borrowers, the low rates are meant to stimulate growth. They even set negative interest rates to encourage banks to lend more hoping to spur higher spending and inflation but that has not been the case so far. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 9/19/2015 Posts: 2,871 Location: hapo
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murchr wrote:obiero wrote:josimar wrote:In developed economies such as Japan , mortgage rates are offered at 1% and tenor is 30 Years . Why are people still on this.. The bill will be signed and big banks will continue to thrive. Small ones are likely to die a national death @josimar...Japans interest rates are at 1% yes, because the economy is on slow puncture. No borrowers, the low rates are meant to stimulate growth. They even set negative interest rates to encourage banks to lend more hoping to spur higher spending and inflation but that has not been the case so far. Ohhhhhhhhhhhhhhhhh come oooonnnnnn murchr You can't even go there. There's a lot of economics papers about the pros and cons of going negative.... They went negative interest rates When national the government was in severe debt, low interest rates made it easier for them to afford interest payments. mmmhhh. Don't ever try to compare Japan to Kenya...Coz Jubilee is taking us there with there debt....Funny excuse. But think about this Japan is smaller than East Africa and they have not died yet... You are now trying like the jubilee sycophant you are to imply that Kenyan will go negative interest rates. That's not the issue...
The issue is that Uhuru will not sign this bill because he owns CBA
That's it!!!!!! No one has taxed Kenyans more than Uhuru...No one on this earth.. Ask Maichblack Now you come up with upus like Japan? Haki boss, tafadhali, tuwache upus. Uhuru's gov't should stop borrowing. It's that simple. This gov't has borrowed twice the amount of Kibaki and we are only on 4 months. I know its exciting to vote for Muthamaki..But people, its time to vote for your kids. This is the worst gov't Kenya has ever seen... We have proof of nice ties...We still have not seen a laptop. In the meantime, everything in Kenya has gone up and is going to go up, including your debt as long as these fellows are there. I don't need you to say no or yes...It's just a fact. This is just the f***ing worst gov't we have ever had. Moi did not charge tax for non-essentials. If you think that does not have an effect on your taxes, then vote your stupidity. Thieves are not good people. Tumeelewana?
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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alma1 wrote:murchr wrote:obiero wrote:josimar wrote:In developed economies such as Japan , mortgage rates are offered at 1% and tenor is 30 Years . Why are people still on this.. The bill will be signed and big banks will continue to thrive. Small ones are likely to die a national death @josimar...Japans interest rates are at 1% yes, because the economy is on slow puncture. No borrowers, the low rates are meant to stimulate growth. They even set negative interest rates to encourage banks to lend more hoping to spur higher spending and inflation but that has not been the case so far. Ohhhhhhhhhhhhhhhhh come oooonnnnnn murchr You can't even go there. There's a lot of economics papers about the pros and cons of going negative.... But think about this Japan is smaller than East Africa and they have not died yet... You are now trying like the jubilee sycophant you are to imply that Kenyan will go negative interest rates. That's not the issue... The issue is that Uhuru will not sign this bill because he owns CBA That's it!!!!!! No one has taxed Kenyans more than Uhuru...No one on this earth.. Ask Maichblack Now you come up with upus like Japan? Haki boss, tafadhali, tuwache upus. Uhuru's gov't should stop borrowing. It's that simple. This gov't has borrowed twice the amount of Kibaki and we are only on 4 months. I know its exciting to vote for Muthamaki..But people, its time to vote for your kids. This is the worst gov't Kenya has ever seen... We have proof of nice ties... In the meantime, everything in Kenya has gone up and is going to go up, including your debt as long as these fellows are there. I don't need you to say no or yes...It's just a fact. This is just the f***ing worst gov't we have ever had. Moi did not charge tax for non-essentials. If you think that does not have an effect on your taxes, then vote your stupidity. You completely missed the reasoning. Enjoy your drink. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 9/19/2015 Posts: 2,871 Location: hapo
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murchr wrote:alma1 wrote:murchr wrote:obiero wrote:josimar wrote:In developed economies such as Japan , mortgage rates are offered at 1% and tenor is 30 Years . Why are people still on this.. The bill will be signed and big banks will continue to thrive. Small ones are likely to die a national death @josimar...Japans interest rates are at 1% yes, because the economy is on slow puncture. No borrowers, the low rates are meant to stimulate growth. They even set negative interest rates to encourage banks to lend more hoping to spur higher spending and inflation but that has not been the case so far. Ohhhhhhhhhhhhhhhhh come oooonnnnnn murchr You can't even go there. There's a lot of economics papers about the pros and cons of going negative.... But think about this Japan is smaller than East Africa and they have not died yet... You are now trying like the jubilee sycophant you are to imply that Kenyan will go negative interest rates. That's not the issue... The issue is that Uhuru will not sign this bill because he owns CBA That's it!!!!!! No one has taxed Kenyans more than Uhuru...No one on this earth.. Ask Maichblack Now you come up with upus like Japan? Haki boss, tafadhali, tuwache upus. Uhuru's gov't should stop borrowing. It's that simple. This gov't has borrowed twice the amount of Kibaki and we are only on 4 months. I know its exciting to vote for Muthamaki..But people, its time to vote for your kids. This is the worst gov't Kenya has ever seen... We have proof of nice ties... In the meantime, everything in Kenya has gone up and is going to go up, including your debt as long as these fellows are there. I don't need you to say no or yes...It's just a fact. This is just the f***ing worst gov't we have ever had. Moi did not charge tax for non-essentials. If you think that does not have an effect on your taxes, then vote your stupidity. You completely missed the reasoning. Enjoy your drink. The only thing I miss is Kibaki. Yes, I'll enjoy my drink. I'm f***ing paying 50% more in taxes for it since Kibaki.. What was your point? There's no reasoning here. Interest rates are going up coz Uhurus gov't f***ed up....It's like another Bush gov't 2.0....Oh we love the guy,,,,,,,but in the meantime, you are being f***ed. Apana... He signs the bill or he stops borrowing for upus projects. Nothing is simpler in life than that!!!!!! If he doesn't, all he is, is a guy who beat Raira in the elections. Nothing to show for his being there....nothing!! and nothing!!! If beating Raira is the point, then it was won long time ago....But at least we have Kabarak.... He signs this bill or we vote for him next year lakini.......jijazie. Thieves are not good people. Tumeelewana?
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Rank: Elder Joined: 9/19/2015 Posts: 2,871 Location: hapo
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Let me start a hashtag for you gusy...Coz it seems being in gov't means you are sharp #whathasuhurdoneforyoulately Yes we shall not vote Raira coz i simply don't think he'd behave differently But Uhuru is going to be President for 2 terms. Probably for the last time.Coz the others are just jocking. But seriously Murchr, do you thing that this is a funny issue? Do you think this is a tribal issue? Life is simple....People remember you for simple things. I remember a time I was so drunk and went to Karumaindo...Those women still call me...Forget the fact that I don't drink anymore and happy... Uhuru's legacy is simple Since there are no laptops, and no stadiums, the guy refused to take care of these shylocks. You can spin it as much as you want... But even now in Nyeri, they belive that Kenyatta took care of of the homeguards. Tafakari hayo.. He signs this bill or we rewrite history. It's called ujinga mamboleo Even the banks know they are f***ing us. But we are supposed to listen to Jubilee because Raira can't be president. Raira is so evil yet I'm paying taxes for water...He's so bad yet I can't have a party coz some fellow saw lesbians....He's so bad yet .....yet...hell no Pay these shylocks money to make billions coz Jubilee is wiser...When you pay shylock rates for your loan, it's ok....Uhuru is president...Raila is not... Unajua this is what we call being a Trump supporter. Uujinga mamboleo. Thieves are not good people. Tumeelewana?
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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Guys my prediction has come to pass.remember I said he will not shoot his own foot, the bill will be rejected and sent back to parliament with some articles borrowed from mou? Guys you are welcome .let banks keep making abnormal profits .MaichBlack you win !! President Uhuru Kenyatta will reject a Bill placing a cap on interest rates but propose new measures to rein in the lenders, including appointment of a banking ombundsman
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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This law was to affect banks only or all lenders..... Whole of lending financial institutions including microfinance? In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 6/23/2009 Posts: 13,519 Location: nairobi
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Angelica _ann wrote:This law was to affect banks only or all lenders..... Whole of lending financial institutions including microfinance? It is specifically banks.. Shylocks, loansharks, safcon etc are exempt for now. How the media has decided on behalf of the president to state that he shall not sign is in bad taste
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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obiero wrote:Angelica _ann wrote:This law was to affect banks only or all lenders..... Whole of lending financial institutions including microfinance? It is specifically banks.. Shylocks, loansharks, safcon etc are exempt for now. How the media has decided on behalf of the president to state that he shall not sign is in bad taste I think the media has hijacked the whole process to gain state house mileage. The media has lost credibility and focus is shifted to glorifying the oppressor. John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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obiero wrote:Angelica _ann wrote:This law was to affect banks only or all lenders..... Whole of lending financial institutions including microfinance? It is specifically banks.. Shylocks, loansharks, safcon etc are exempt for now. How the media has decided on behalf of the president to state that he shall not sign is in bad taste The banking (amendment) act, 2015 Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 6/23/2009 Posts: 13,519 Location: nairobi
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Pesa Nane wrote:obiero wrote:Angelica _ann wrote:This law was to affect banks only or all lenders..... Whole of lending financial institutions including microfinance? Shylocks, loansharks, safcon etc are exempt for now. How the media has decided on behalf of the president to state that he shall not sign is in bad taste The banking (amendment) act, 2015
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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To think that anyone of the 98% in the "strongholds" who voted Jubilee will vote for RAO just because a bill was not signed is too far fetched... The political risk of not signing is marginal at best... The economic risk of signing is astronomical at worst Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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guru267 wrote:To think that anyone of the 98% in the "strongholds" who voted Jubilee will vote for RAO just because a bill was not signed is too far fetched...
The political risk of not signing is marginal at best... The economic risk of signing is astronomical at worst Your argument is valid. Some Kenyans don't care about happenings around them. They don't even feel what is discussed in parliament. In general some Kenyans are just there watching things to happen! John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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Spikes wrote:guru267 wrote:To think that anyone of the 98% in the "strongholds" who voted Jubilee will vote for RAO just because a bill was not signed is too far fetched...
The political risk of not signing is marginal at best... The economic risk of signing is astronomical at worst Your argument is valid. Some Kenyans don't care about happenings around them. They don't even feel what is discussed in parliament. In general some Kenyans are just there watching things to happen! Voting on tribal lines means more to them than anything that's real and factual like the signing of this bill
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Rank: Member Joined: 12/1/2007 Posts: 539 Location: Nakuru
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Spikes wrote:obiero wrote:Angelica _ann wrote:This law was to affect banks only or all lenders..... Whole of lending financial institutions including microfinance? It is specifically banks.. Shylocks, loansharks, safcon etc are exempt for now. How the media has decided on behalf of the president to state that he shall not sign is in bad taste I think the media has hijacked the whole process to gain state house mileage. The media has lost credibility and focus is shifted to glorifying the oppressor. it's part of a bigger "they made me not sign it" script... For investors as a whole, returns decrease as motion increases ~ WB
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Rank: Elder Joined: 6/23/2009 Posts: 13,519 Location: nairobi
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winmak wrote:Spikes wrote:obiero wrote:Angelica _ann wrote:This law was to affect banks only or all lenders..... Whole of lending financial institutions including microfinance? It is specifically banks.. Shylocks, loansharks, safcon etc are exempt for now. How the media has decided on behalf of the president to state that he shall not sign is in bad taste I think the media has hijacked the whole process to gain state house mileage. The media has lost credibility and focus is shifted to glorifying the oppressor. it's part of a bigger "they made me not sign it" script... It would be very good for the president to sign
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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