Cooperative Bank of Kenya through the Boss Gideon Muriuki, issued a statement concerning the Finance Bill 2019 signed last week by His Excellency President Uhuru Kenyatta.
The lender is confident that the move by the President to remove interest rate cap will ensure financial backup easily available to various segments which will further enhance economic growth.
Muriuki affirmed that all existing loans will be serviced under the agreed interest rate when rate cap was in place. All new loan facilities will be issued under the new finance law.
As time goes by, any new arising issues will be communicated to the customers and the public in general,.
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