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ruwesh		#941 Posted : Tuesday, September 06, 2016 4:32:59 PM
Rank: New-farer Joined: 2/4/2015 Posts: 15 Location: nairobi		Plimsoul wrote: KulaRaha wrote: Plimsoul wrote: KulaRaha wrote: Plimsoul wrote: KulaRaha wrote: So it can even be inferred that base rate is 4%? Yes. Even 4% of the base rate. Lol CBK needs to come in soon...else Mr Njoroge's legacy will be the destruction of the banking sector in Kenya. He's already closed 3 down... Hopefully CBK responds to banks (privately) when they seek clarification/guidance. As a customer, dont you feel its your right to know the correct interpretation? Absolutely. I think this has been terribly mishandled so far. CBK should have issued clarification with its 14th Sept ultimatum. But we are customers of banks, not the CBK. It is up to banks to get clarification and pass it on to us. central bank through their twitter handle confimrs that KBRR currently at 8.9% is the base rate for lending by commercial banks and microfinance banks.
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Plimsoul		#942 Posted : Tuesday, September 06, 2016 4:44:42 PM
Rank: Member Joined: 3/3/2016 Posts: 132		I don't see any such tweet. Did they delete something?
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Ngalaka		#943 Posted : Tuesday, September 06, 2016 5:28:27 PM
Rank: Veteran Joined: 10/29/2008 Posts: 1,566		CBK only gives guidelines. Matters of interpreting the law per se is not its province. Bear in mind also that the CBK did not sponsor nor advocate for the law - so technically the may not know the real intention of the originators of the law. Isuni yilu yi maa me muyo - ni Mbisuu
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KulaRaha		#944 Posted : Tuesday, September 06, 2016 5:35:18 PM
Rank: Elder Joined: 7/26/2007 Posts: 6,514		Ngalaka wrote: CBK only gives guidelines. Matters of interpreting the law per se is not its province. Bear in mind also that the CBK did not sponsor nor advocate for the law - so technically the may not know the real intention of the originators of the law. The law requires CBK to publish a base rate. Failure to do so will expose the Governor to legal risk. Business opportunities are like buses,there's always another one coming
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obiero		#945 Posted : Tuesday, September 06, 2016 5:43:51 PM
Rank: Elder Joined: 6/23/2009 Posts: 14,320 Location: nairobi		KulaRaha wrote: Ngalaka wrote: CBK only gives guidelines. Matters of interpreting the law per se is not its province. Bear in mind also that the CBK did not sponsor nor advocate for the law - so technically the may not know the real intention of the originators of the law. The law requires CBK to publish a base rate. Failure to do so will expose the Governor to legal risk. 2.9m simba shares traded today.. danger volume action on financial services COOP, IMH, KEGN, KQ, MTNU
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Ngalaka		#946 Posted : Tuesday, September 06, 2016 5:46:56 PM
Rank: Veteran Joined: 10/29/2008 Posts: 1,566		KulaRaha wrote: Ngalaka wrote: CBK only gives guidelines. Matters of interpreting the law per se is not its province. Bear in mind also that the CBK did not sponsor nor advocate for the law - so technically the may not know the real intention of the originators of the law. The law requires CBK to publish a base rate. Failure to do so will expose the Governor to legal risk. The question is which of CBR and KBRR are commercial banks to base their interest rates on to borrowers - as per the new law. Suppose CBK says its KBRR and then the courts rule it ought to be based on CBR! Isuni yilu yi maa me muyo - ni Mbisuu
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Impunity		#947 Posted : Tuesday, September 06, 2016 5:50:14 PM
Rank: Elder Joined: 3/2/2009 Posts: 26,331 Location: Masada		KulaRaha wrote: mkate_nusu wrote: Fellow wazuans, reading is free and it was all over the news Under the new law, lending rates will be capped at four percentage points above the benchmark central bank rate, which is currently 10.5 per cent, while deposit rates must be at least 70 per cent of the benchmark rate. The law makes no reference to CBR...just a base rate. What is base? Seeing is also free. central bank rate = cbr? Portfolio: Sold You know you've made it when you get a parking space for your yatcht.
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Plimsoul		#948 Posted : Tuesday, September 06, 2016 7:31:20 PM
Rank: Member Joined: 3/3/2016 Posts: 132		ruwesh wrote: central bank through their twitter handle confimrs that KBRR currently at 8.9% is the base rate for lending by commercial banks and microfinance banks. "Earlier today, a ‘MisTweet' mentioning KBRR was posted on @CBKkenya page. CBK apologizes for any inconveniences caused by this Mis-Tweet." From twitter
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newfarer		#949 Posted : Tuesday, September 06, 2016 7:52:10 PM
Rank: Elder Joined: 3/19/2010 Posts: 3,505 Location: Uganda		Plimsoul wrote: ruwesh wrote: central bank through their twitter handle confimrs that KBRR currently at 8.9% is the base rate for lending by commercial banks and microfinance banks. "Earlier today, a ‘MisTweet' mentioning KBRR was posted on @CBKkenya page. CBK apologizes for any inconveniences caused by this Mis-Tweet." From twitter This CBK gavana njoroge will lose the trust respect and goodwill most Kenyans had for him if he continues mishandling this matter. He should clarify the rate asap punda amecheka
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KulaRaha		#950 Posted : Wednesday, September 07, 2016 8:39:09 AM
Rank: Elder Joined: 7/26/2007 Posts: 6,514		Njoroge is starting to look very weak.....ineffective, unrealistic and stuck in analysis paralysis. One term Governor at best. Business opportunities are like buses,there's always another one coming
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