Loan borrowers will have to wait till next week for a new pricing system that many hope will make credit more affordable.
The
Treasury had directed that flexible loans issued from Tuesday be priced
using the proposed Kenya Bank Reference Rate (KBRR) framework.
Central
Bank, which is mandated with calculating the rate that will serve as a
standard for all banks is , however, yet to prescribe the new rate.
“It
is an implementation challenge rather than an issue of policy. We do
not have a KBRR rate yet and we will need to have it,” said Habil Olaka,
the chief executive of the Kenya Bankers Association.
No comments:
Post a Comment