Episode 6: Breaking Bank
Episode description
After 16 years and three failed attempts at passing a bill to cap interest rates in Kenya, former MP Joe Donde's dream has now become a reality. This week, we take a look at the Banking Amendment Act 2015, what it has changed about our banking and financial industry, the critique that has been leveled against it, and the possible outcomes moving forward.
Resources
The Banking (Amendment) Bill, 2015
Donde happy after MPs pass bill to cap interest rates
Larry Liza's Viral Facebook Post
Controlling Interest: Are Ceilings On Interest Rates a Good Idea?
The Impact of Interest Rate Ceilings on Microfinance
Consider pros and cons of interest rates cap before passing banking Bill in haste
The Impact of Capping Interest Rates on the Kenyan Economy
Kenya should prepare for crisis and economic slowdown after capping interest rates
2015 Economic Survey Report Highlights