Rates charged on loans to be published by State
18 July 2014, 21:27
Nairobi - Commercial banks will be named and shamed by the state because they charge too much interest on loans, The Standard reported.
This plan was stated by the National Treasury as they will let the public know how much rates are charged by commercial banks.
Government is also trying to help consumers make better informed decisions when they try to get loans.
They will be more aware of which bank is cheaper and which expensive.
The Kenya Banks Reference Rate will also be introduced of which banks will have to adhere to the new rules set to pricing.
For more on this story visit The Standard.