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Law Capping interest rates
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Ericsson
#2551 Posted : Tuesday, August 21, 2018 4:30:54 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
obiero wrote:
obiero wrote:
obiero wrote:
Spikes wrote:
obiero wrote:
mlennyma wrote:
obiero wrote:
murchr wrote:
obiero wrote:
Angelica _ann wrote:
[quote=murchr]


Wow KCB headed to 70bob!!!


Kenya Govt and the People of Kenya are distinct


Layman English please

The law won’t be reversed


to repeal is to abolish/anull a law or an act of parliament. .prophet obiero you mean this word was used wrongly ?

I mean that it was a political response to IMF that will not garner real political support in the House. To repeal it cannot be via twitter feeds, this thing is hardcoded in wanjiku who prefers no debt to the mercinary rates that were being bandied by Kenyan banks


It should be mercenary. The problem emanates from attending shithole schools where a young bugger used to receive instructions under a tree inside squalid makeshift structures.

It was written.. MPs will not support the amendment via orders from above!

Anyone still waiting for a repeal? Bank margins continue being squeezed via the main income line being lending.. It's not easy for the Kenyan financial industry right now. Expect more consolidation

Watch and learn. No MP will risk loosing the next term https://www.businessdail...1546-ki208bz/index.html[/quote]

I think the opposite will happen,the bill to repeal/ammend the interest rates cap law will sail through
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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obiero
#2552 Posted : Tuesday, August 21, 2018 8:27:58 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,213
Location: nairobi
Ericsson wrote:
obiero wrote:
obiero wrote:
obiero wrote:
Spikes wrote:
obiero wrote:
mlennyma wrote:
obiero wrote:
murchr wrote:
obiero wrote:
Angelica _ann wrote:
murchr wrote:


Wow KCB headed to 70bob!!!


Kenya Govt and the People of Kenya are distinct


Layman English please

The law won’t be reversed


to repeal is to abolish/anull a law or an act of parliament. .prophet obiero you mean this word was used wrongly ?

I mean that it was a political response to IMF that will not garner real political support in the House. To repeal it cannot be via twitter feeds, this thing is hardcoded in wanjiku who prefers no debt to the mercinary rates that were being bandied by Kenyan banks


It should be mercenary. The problem emanates from attending shithole schools where a young bugger used to receive instructions under a tree inside squalid makeshift structures.

It was written.. MPs will not support the amendment via orders from above!

Anyone still waiting for a repeal? Bank margins continue being squeezed via the main income line being lending.. It's not easy for the Kenyan financial industry right now. Expect more consolidation

Watch and learn. No MP will risk loosing the next term https://www.businessdail...1546-ki208bz/index.html


I think the opposite will happen,the bill to repeal/ammend the interest rates cap law will sail through

Already the signs are ominous.. Talk to your legislative friends, if you have any

KQ ABP 4.26
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FRM2011
#2553 Posted : Tuesday, August 21, 2018 5:55:51 PM
Rank: Elder

Joined: 11/5/2010
Posts: 2,459
Any idea when the bill repealing this useless law will be debated ??

Will be harvesting season for our MPs. But the important thing is for the bill to pass and we all go backup yo building the nation.
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Ericsson
#2554 Posted : Tuesday, August 21, 2018 7:11:31 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
FRM2011 wrote:
Any idea when the bill repealing this useless law will be debated ??

Will be harvesting season for our MPs. But the important thing is for the bill to pass and we all go backup yo building the nation.

Debate starts tomorrow Wednesday 22 September
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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bird_man
#2555 Posted : Tuesday, August 21, 2018 11:58:56 PM
Rank: Veteran

Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
Ericsson wrote:
FRM2011 wrote:
Any idea when the bill repealing this useless law will be debated ??

Will be harvesting season for our MPs. But the important thing is for the bill to pass and we all go backup yo building the nation.

Debate starts tomorrow Wednesday 22 September

August you mean.
Formally employed people often live their employers' dream & forget about their own.
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obiero
#2556 Posted : Wednesday, August 22, 2018 8:13:42 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,213
Location: nairobi
mlennyma wrote:
obiero wrote:
obiero wrote:
obiero wrote:
obiero wrote:
obiero wrote:
obiero wrote:
sparkly wrote:
MaichBlack wrote:
obiero wrote:
I told you guys to sell off bank stocks in 2014. Luckily made it out of some major holdings in good time..

so, what do you expect to be a fair hair cut on obieros portfolio as a result of kamwanaas house attempt to please Wanjiku. what will be the overall industries' hit in percentage. my fair guess from my lender's perspective
(16-14.5)/(16*0.5)*100=18.75% conservetively
thieves.

Hey @Obiero. Bill not signed. And please note I did not put the word 'yet' at the end.

@sparkly Its bound to be signed on Monday 29th Aug 2016

@maichblack Smaller banks will fold

Here we are...
Family fires it's staff https://citizentv.co.ke/...fs-to-cut-costs-143841/

and then Sidian lays off 108 workers http://www.businessdaily...9550-3428588-151f209z/,

and then Ecobank shuts down 9 branches http://www.businessdaily...6506-316lohz/index.html

First Community Bank let go of a quarter of its staff http://www.the-star.co.k...osed-number-of_c1451638

and now BoA closes 12 branches. Sad state of affairs http://www.businessdaily...2926-jp394sz/index.html

Sidian, NBK, Family, HF, NIC struggling.. Small banks shall fold

Family Bank et al in distress.. You know where you got the information first over a year ago

In 2016, I chose to sit out financials where bank stocks nosedived sharply from end year 2016 to mid 2017, but have since regained steadily from Q3 2017. In 2018, only the big banks are showing signs of enjoying the rate cap fruits, primarily due to their deposit composition. It could be the right time to buy back into the tier one bank stocks

You have spoken,kcb,equity and nic are by bets with 100bob my exit targets ...the best thing in jubilee gvt you can't oppose what the top has decided to do ......byee rate cap

Big banks sucking out life from the smaller ones.. It was written https://mobile.nation.co...23130-72va2fz/index.html

KQ ABP 4.26
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KulaRaha
#2557 Posted : Thursday, August 23, 2018 9:40:03 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
Small banks serve no purpose in Kenya except money laundering. Most should close or be absorbed.
Business opportunities are like buses,there's always another one coming
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penkon
#2558 Posted : Thursday, August 23, 2018 10:16:44 AM
Rank: New-farer

Joined: 3/12/2014
Posts: 96
KulaRaha wrote:
Small banks serve no purpose in Kenya except money laundering. Most should close or be absorbed.


“This will protect the banks from those who pretend to be banks and engage only in internal lending and money laundering. You are either a bank or a micro­finance,” --Njomo
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Ericsson
#2559 Posted : Thursday, August 23, 2018 2:52:07 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
https://www.businessdail...4774-wh3cd2z/index.html

Banks will have to increase their core capital from Sh1 billion to Sh5 billion over the next four years if Parliament adopts new amendments to the Banking Act.

Kiambu Town MP Jude Njomo, the architect of the interest rate capping law, wants banks to have minimum capital of Sh2 billion by December 31, 2019, Sh3.5 billion (2020) and Sh5 billion (2021).

He wants the changes approved through the Finance Bill, 2018 to create stronger banks.

The move is set to force mergers and acquisitions as smaller lenders seek to survive.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Realtreaty
#2560 Posted : Thursday, August 23, 2018 7:01:16 PM
Rank: Elder

Joined: 8/16/2011
Posts: 2,386
When will we come to a compromise?
We are running to increase petroleum products VAT due to skewed parliament which is still there to kill businesses
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