Law Capping interest rates - Page 288 - Economy - Wazua

Welcome Guest

Wazua » Investor » Economy » Law Capping interest rates

Law Capping interest rates

Options

Previous Topic · Next Topic

Horton		#2871 Posted : Thursday, October 24, 2019 5:53:53 PM
Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi		Monk wrote: Fyatu wrote: MaichBlack wrote: Horton wrote: MaichBlack wrote: Ericsson wrote: Hon Sam Atandi @SamuelAtandi Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none. The amendment will only be done if the President wants it to be. MPigs made the wrong move. Recovering from that move is tough!! Is there a d-day to which this must be debated/passed? I am guessing 14 days but I am not sure. They cannot sit on it! Immediately after recess which happens to be the first week of November. I thought the court gave them 12 months from date of ruling, ie March 2019? Right so safe to assume worst case scenario March 2020?
Back to top		\|
User Profile

MaichBlack		#2872 Posted : Thursday, October 24, 2019 6:31:50 PM
Rank: Elder Joined: 7/22/2009 Posts: 7,838		Monk wrote: Fyatu wrote: MaichBlack wrote: Horton wrote: MaichBlack wrote: Ericsson wrote: Hon Sam Atandi @SamuelAtandi Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none. The amendment will only be done if the President wants it to be. MPigs made the wrong move. Recovering from that move is tough!! Is there a d-day to which this must be debated/passed? I am guessing 14 days but I am not sure. They cannot sit on it! Immediately after recess which happens to be the first week of November. I thought the court gave them 12 months from date of ruling, ie March 2019? You are getting things mixed up. This has nothing to do with the courts. The government wants to repeal interest rate controls because it is bad for the economy. Period. Not because the court said so. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
Back to top		\|
User Profile

Fyatu		#2873 Posted : Thursday, October 24, 2019 6:34:19 PM
Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru		Monk wrote: Fyatu wrote: MaichBlack wrote: Horton wrote: MaichBlack wrote: Ericsson wrote: Hon Sam Atandi @SamuelAtandi Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none. The amendment will only be done if the President wants it to be. MPigs made the wrong move. Recovering from that move is tough!! Is there a d-day to which this must be debated/passed? I am guessing 14 days but I am not sure. They cannot sit on it! Immediately after recess which happens to be the first week of November. I thought the court gave them 12 months from date of ruling, ie March 2019? President Uhuru did not sign the bill, rather he sent it to parliament with specific instructions that MPs throw it(bill) out of the window. CS Yattani is on record saying that this is expected to happen immediately parliament resumes session in November. Dumb money becomes dumb only when it listens to smart money
Back to top		\|
User Profile

MaichBlack		#2874 Posted : Thursday, October 24, 2019 6:36:20 PM
Rank: Elder Joined: 7/22/2009 Posts: 7,838		Sad that it took the government this long to realise something we realised and stated here before the president appended his signature on the interest control bill!!! I can never give a random individual a loan at the same rate as Safaricom or BAT. I can never give KQ a loan at the same rate as EABL!!! A first year economics student knows this!!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
Back to top		\|
User Profile

Rongla		#2875 Posted : Thursday, October 24, 2019 7:39:15 PM
Rank: Member Joined: 10/3/2008 Posts: 101		MaichBlack wrote: Sad that it took the government this long to realise something we realised and stated here before the president appended his signature on the interest control bill!!! I can never give a random individual a loan at the same rate as Safaricom or BAT. I can never give KQ a loan at the same rate as EABL!!! A first year economics student knows this!!! That was exactly what the banks were doing before the rate cap. They were literally abusing the goodwill of their good customers by over charging them high interest to carter for their Non performing loans. Even if the rate cap goes, measures should be put in place to protect goid borrowers. The CRB is not enough
Back to top		\|
User Profile

obiero		#2876 Posted : Thursday, October 24, 2019 7:46:15 PM
Rank: Elder Joined: 6/23/2009 Posts: 14,220 Location: nairobi		Rongla wrote: MaichBlack wrote: Sad that it took the government this long to realise something we realised and stated here before the president appended his signature on the interest control bill!!! I can never give a random individual a loan at the same rate as Safaricom or BAT. I can never give KQ a loan at the same rate as EABL!!! A first year economics student knows this!!! That was exactly what the banks were doing before the rate cap. They were literally abusing the goodwill of their good customers by over charging them high interest to carter for their Non performing loans. Even if the rate cap goes, measures should be put in place to protect goid borrowers. The CRB is not enough @rongla speaks sense KQ ABP 4.26
Back to top		WWW \|
User Profile

Horton		#2877 Posted : Thursday, October 24, 2019 8:50:05 PM
Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi		obiero wrote: Rongla wrote: MaichBlack wrote: Sad that it took the government this long to realise something we realised and stated here before the president appended his signature on the interest control bill!!! I can never give a random individual a loan at the same rate as Safaricom or BAT. I can never give KQ a loan at the same rate as EABL!!! A first year economics student knows this!!! That was exactly what the banks were doing before the rate cap. They were literally abusing the goodwill of their good customers by over charging them high interest to carter for their Non performing loans. Even if the rate cap goes, measures should be put in place to protect goid borrowers. The CRB is not enough @rongla speaks sense @rongla how do you propose the banks price their risk?
Back to top		\|
User Profile

ngapat		#2878 Posted : Thursday, October 24, 2019 8:59:51 PM
Rank: Veteran Joined: 12/11/2006 Posts: 930		Cap should be maintained but adjusted. They can slightly increase the interest margins. They could also classify loans i.e secured and non secured. The can then widen the interest margins on non secured loans “Invest in yourself. Your career is the engine of your wealth.”
Back to top		\|
User Profile

MaichBlack		#2879 Posted : Thursday, October 24, 2019 11:04:42 PM
Rank: Elder Joined: 7/22/2009 Posts: 7,838		ngapat wrote: Cap should be maintained but adjusted. They can slightly increase the interest margins. They could also classify loans i.e secured and non secured. The can then widen the interest margins on non secured loans All these suggestions/ideas have been overtaken by time. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
Back to top		\|
User Profile

Ericsson		#2880 Posted : Thursday, October 24, 2019 11:14:04 PM
Rank: Elder Joined: 12/4/2009 Posts: 10,808 Location: NAIROBI		MaichBlack wrote: ngapat wrote: Cap should be maintained but adjusted. They can slightly increase the interest margins. They could also classify loans i.e secured and non secured. The can then widen the interest margins on non secured loans All these suggestions/ideas have been overtaken by time. If the caps remained the economy was grinding to a halt. Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
Back to top		WWW \|
User Profile

303 Pages«<286287288289290>»

Wazua » Investor » Economy » Law Capping interest rates

Forum Jump

You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Watch this topic
Print this topic

Normal
Threaded