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Law Capping interest rates

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Chaka		#2731 Posted : Wednesday, February 27, 2019 9:55:50 PM
Rank: Elder Joined: 2/16/2007 Posts: 2,114		One of them must be to open an account(salary) with them so that they can pay themselves first when installments are due... Ericsson wrote: AndyC wrote: jmbada wrote: The first big bank to break ranks....Stanchart offering to buy out loans at 11.5% Link? Tough Terms and conditions
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Horton		#2732 Posted : Thursday, February 28, 2019 8:16:05 AM
Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi		Treasury once again proposes repealing of rate cap https://kenyanwallstreet...-repealing-of-rate-caps/
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maka		#2733 Posted : Thursday, March 14, 2019 5:18:38 PM
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi		[quote=Horton]Treasury once again proposes repealing of rate cap https://kenyanwallstreet...repealing-of-rate-caps/[/quote] BREAKING! High Court rules that law setting limits on bank interest rates (the rate capping law) unconstitutional. possunt quia posse videntur
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murchr		#2734 Posted : Thursday, March 14, 2019 5:25:39 PM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		maka wrote: Horton wrote: Treasury once again proposes repealing of rate cap https://kenyanwallstreet...repealing-of-rate-caps/ BREAKING! High Court rules that law setting limits on bank interest rates (the rate capping law) unconstitutional. "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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mlennyma		#2735 Posted : Thursday, March 14, 2019 6:24:48 PM
Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi		murchr wrote: maka wrote: Horton wrote: Treasury once again proposes repealing of rate cap https://kenyanwallstreet...repealing-of-rate-caps/ BREAKING! High Court rules that law setting limits on bank interest rates (the rate capping law) unconstitutional. I will be in the market tomorrow buying kcb "Don't let the fear of losing be greater than the excitement of winning."
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AndyC		#2736 Posted : Thursday, March 14, 2019 6:41:54 PM
Rank: Member Joined: 4/21/2015 Posts: 151		mlennyma wrote: murchr wrote: maka wrote: Horton wrote: Treasury once again proposes repealing of rate cap https://kenyanwallstreet...repealing-of-rate-caps/ BREAKING! High Court rules that law setting limits on bank interest rates (the rate capping law) unconstitutional. I will be in the market tomorrow buying kcb They give us one year to adjust and hope legislation will be passed to repeal. This is so vague...can't they make a clear cut decision.
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Ericsson		#2737 Posted : Thursday, March 14, 2019 6:57:15 PM
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI		AndyC wrote: mlennyma wrote: murchr wrote: maka wrote: Horton wrote: Treasury once again proposes repealing of rate cap https://kenyanwallstreet...repealing-of-rate-caps/ BREAKING! High Court rules that law setting limits on bank interest rates (the rate capping law) unconstitutional. I will be in the market tomorrow buying kcb They give us one year to adjust and hope legislation will be passed to repeal. This is so vague...can't they make a clear cut decision. Amazing what a timing.This has been done to satisfy IMF conditions for a bailout package. Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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mwekez@ji		#2738 Posted : Thursday, March 14, 2019 7:24:06 PM
Rank: Chief Joined: 5/31/2011 Posts: 5,121		Kenya court axes banking rates cap, suspends implementation for a year https://mobile.reuters.com/article/amp/af/idAFL8N2115OF
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Obi 1 Kanobi		#2739 Posted : Thursday, March 14, 2019 7:26:30 PM
Rank: Elder Joined: 7/23/2008 Posts: 3,017		Sounds ridiculous to me, how is a commercial decision tied to the constitution? But this being Kenya, anything is a go. Really keen to see how banks will communicate decisions to adjust peoples rate up, due to risk. If one has been consistently paying, then obviously their risk was correctly priced, ama namna gani my friends. "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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murchr		#2740 Posted : Thursday, March 14, 2019 7:59:03 PM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		Obi 1 Kanobi wrote: Sounds ridiculous to me, how is a commercial decision tied to the constitution? But this being Kenya, anything is a go. Really keen to see how banks will communicate decisions to adjust peoples rate up, due to risk. If one has been consistently paying, then obviously their risk was correctly priced, ama namna gani my friends. Ruling has been set aside for 12 months to give the Mpigs time to formulate another law. "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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