The Banking (Amendment) Act 2015 and its Impact on the Financial Sector in Kenya From a Legal Perspective

Assent to Banking Act picFollowing a seminar on the Amendment Act held at A&K Offices on September 2nd, we have prepared a memorandum addressing key issues raised by the Banking (Amendment) Act 2015 which was assented to by the President on 24th August 2016. The Amendment Act seeks to introduce a cap on the maximum interest rates chargeable on a credit facility and a minimum rate of interest on deposits held in interest earning accounts.

Please click here to read the memorandum.