The Banking Amendment Bill meant to see banks reduce the interest rates on loans is in the last stages just waiting to be submitted to the President for signing.
According to the speaker of the National Assembly, Justin Muturi, while speaking in a Mombasa hotel on Friday, the bill has taken longer to get to the head of state since it had to go through several steps during scrutinising.
Meanwhile,the Cabinet Secretary for Finance, Henry Rotich has approved and praised the bill saying that it will go a long way into ensuring that borrowers are not exploited by the banks.
This comes at a time when Kenyans and especially the borrowers are anxiously waiting for the bill to be put into practice to rid them of high loan interests.
Upon submission to him, the president will have 2 weeks to either approve or reject it.