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Law Capping interest rates
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MaichBlack
#81 Posted : Friday, July 29, 2016 3:20:38 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
newfarer wrote:
2.20am MaichBlack relax, this issue is giving you sleepless nights, even going to monologue mode, what's your interest?

Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

May be where I am it was not 2.20am.

I am very relaxed on this one. There is no way the president is signing that bill!

If I was not afraid of being done what @Obiero did to @vvs on their 100k bet, I would have welcomed bets on the same!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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kaifastus
#82 Posted : Friday, July 29, 2016 3:22:42 PM
Rank: Member

Joined: 8/17/2011
Posts: 207
Location: humu humu
in duplum rule, was a form of caping. it relieved kenyans of untold suffering. Banks cant reduce rates by themselves,cbk moral suasion notwithstanding. germany nigeria france some us states have some form of interest rate caps.
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MaichBlack
#83 Posted : Friday, July 29, 2016 3:24:54 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
newfarer wrote:
Fuel prices are regulated. We have seen some stability in the prices no fuel rationing has occurred. I think it's are good bill as a bank customer. There are Saccos and MFIs to compete with banks if banks sidelines small borrowers.

You mean there is a ready made solution???

Then why aren't the small borrowers going to the Saccos and MFIs? What are they waiting for? And there is no better time for them to compete with banks than now because the bank rates are high.

You get my drift.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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MaichBlack
#84 Posted : Friday, July 29, 2016 3:27:29 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
newfarer wrote:
Fuel prices are regulated. We have seen some stability in the prices no fuel rationing has occurred. I think it's are good bill as a bank customer. There are Saccos and MFIs to compete with banks if banks sidelines small borrowers.

Oooh my goodness!!! We are comparing interest rates with fuel prices now??? Okaaay....
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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kaifastus
#85 Posted : Friday, July 29, 2016 3:34:23 PM
Rank: Member

Joined: 8/17/2011
Posts: 207
Location: humu humu
In duplum rule that was passed by parliament yrs ago relieved kenyans of untold suffering. it was a form of a cap.Banks would never have let us off the hook then. in recent times, kbrr, moral suasion etc are in place.. banks still stubborn. always pricing loans high using own tools and flimsy justification. Germany,nigeria,France some US states has some form of cap.
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MaichBlack
#86 Posted : Friday, July 29, 2016 3:36:32 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
mlennyma wrote:
Swenani wrote:
This is not about uhunye protecting his interests in CBA but it's common sense......It is a bad idea to cap interest rates-they are beter ways to reduce the rates if the govt is keen to.

freedom,freedom,freedom as a shareholder i want to see my bank with the independence in lending so that when it goes under they don't give excuses ,this is a very bad and dangerous law when combined with the current NPL's within the banking sector it can wipeout bank profits by a quarter or even half and cause unrest and public panic

@mlennyma - Apparently as a shareholder, you and your bank owe all kinds of random Kenyans a loan and it is your responsibility to ensure they get that loan at an "affordable rate" bla bla bla.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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mlennyma
#87 Posted : Friday, July 29, 2016 4:02:52 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
MaichBlack wrote:
mlennyma wrote:
Swenani wrote:
This is not about uhunye protecting his interests in CBA but it's common sense......It is a bad idea to cap interest rates-they are beter ways to reduce the rates if the govt is keen to.

freedom,freedom,freedom as a shareholder i want to see my bank with the independence in lending so that when it goes under they don't give excuses ,this is a very bad and dangerous law when combined with the current NPL's within the banking sector it can wipeout bank profits by a quarter or even half and cause unrest and public panic

@mlennyma - Apparently as a shareholder, you and your bank owe all kinds of random Kenyans a loan and it is your responsibility to ensure they get that loan at an "affordable rate" bla bla bla.

we can only wait and see whether conflict of interest prevails
"Don't let the fear of losing be greater than the excitement of winning."
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MaichBlack
#88 Posted : Friday, July 29, 2016 4:40:24 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
mlennyma wrote:
Swenani wrote:
This is not about uhunye protecting his interests in CBA but it's common sense......It is a bad idea to cap interest rates-they are beter ways to reduce the rates if the govt is keen to.

freedom,freedom,freedom as a shareholder i want to see my bank with the independence in lending so that when it goes under they don't give excuses ,this is a very bad and dangerous law when combined with the current NPL's within the banking sector it can wipeout bank profits by a quarter or even half and cause unrest and public panic

@mlennyma - Apparently as a shareholder, you and your bank owe all kinds of random Kenyans a loan and it is your responsibility to ensure they get that loan at an "affordable rate" bla bla bla.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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MaichBlack
#89 Posted : Friday, July 29, 2016 5:52:07 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
mlennyma wrote:
Obi 1 Kanobi wrote:
Swenani wrote:
This is not about uhunye protecting his interests in CBA but it's common sense......It is a bad idea to cap interest rates-they are beter ways to reduce the rates if the govt is keen to.

Which are this other methods everyone keeps talking about and why has Treasury/CBK not applied them to the sector.

It is this failure by the CBK/Treasury to tame rates that has now forced the legislature to come up with this law

By the way interest rates caps of one form or another do exist in South Africa, India, Bangladesh.

In the US, France and even UK, caps do exist to check Usurious and predatory lenders. Our entire financial system is predatory and need to be checked through such caps.

this examples you are comparing with a third world economy makes you look a jocker,whats the population's financial ability?like india whats the country's population?billion.....in kenya 40million over 40 banks and Saccos where three quarters of the population is very poor

Hii Copy Pasting itaua watu!!!

Airtel tried to copy paste the Indian model here. @Obi should ask them how that played out.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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sparkly
#90 Posted : Friday, July 29, 2016 6:20:24 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Capping is good, very good but if GOK wants to drive a low interest policy in the consumer market, why not drive the policy through GOK owned institutions like NBK, ADC, Development Bank, ICDC.
Life is short. Live passionately.
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