CM Advocates LLP’s Post

Section 44 of the Banking Act provides that, “No institution shall increase its rate of banking or other charges except with the prior approval of the Cabinet Secretary.” The bone of contention with regard to this section is whether this section was intended to control the rate of interest or whether it only applied to other banking charges. Read the full alert by Stella Njagi - Gikonyo and Christopher Muchiri #CMAdvocatesllp #legalalert #bankingact #casestudy

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