After the successful signing of the Banking Amendment Bill, 2015 by president Kenyatta on Wednesday at State House, Kenyans have expressed happiness.
This is since the interest rates on bank loans followed will now be charged at 4% unlike in the past.
Banks may look for an option now that the interest rates have been reduced so as to meet the business standards.
Kenyans should not celebrate since banks may introduce hidden charges to the loans borrowed to cover against the low-interest rates charged.
The president signing on the Banking Amendment Bill 2015 does not grantee Kenyans opportunities to borrow money from banks due to low interest charged when repaying the loan.
Banks will look for ways to recover from the low-interest rates on loans given to clients to meet the economical status of the country.