The move by President Uhuru Kenyatta to assent into law the interest rates Bill passed by Parliament is commendable.

Is there a story unfolding in your community? Let Hivisasa know

This will keep away many Kenyans from the exorbitant interest rates charged by commercial banks.

I believe the passage of the Bill will cushion credit seekers from unscrupulous bankers out to make quick cash from loan seekers.

Sometime, banks act contrary to agreed terms with their clients to overcharge borrowers.

It is true that what banks do is business. However, this should not be capitalized on exploit customers.

With the capping of the interest rates, many Kenyans will be able to apply for loans and do business.

When controlled, loan seekers will not pay a lot of money while servicing the loans.