Tala Boss says CBK Regulation is Okay

@talamobile East & Central Africa Regional Boss, Ivan Mbowa 

Digital lenders will soon be regulated if the presented bill by the banks' regulator ,Central Bank of Kenya (CBK) passes into law.

CBK was responding to uproar by the public on how digital lenders are exploiting innocent Kenyans by charging exorbitant high interest rates on their loans.

Ivan Mbowa,East and Central Africa Regional Tala Manager and who is also one of the top officials at the Digital Lenders Association of Kenya (DLAK) says the move by CBK is okay.

In a chat with the Business Daily, said that although not all aspects need change but regulation is important. Those who shame defaulters by calling relatives and family need to be controlled.

Yes, we have had cases where some people are contacting phone box and doing all kinds of stuff. There have been unethical behaviours. We think that a regulatory framework should drive and enforce rules and help us ensure fairness, transparency and honesty in respect to treating the customers even during debt collection, said Ivan Mbowa 

He confirmed that ,Tala as one of the pioneers of digital lending is ready to cope and work with what the regulator will demand but atleast adjust some aspects especially the rate capping. 

So as Tala, along with Digital Lenders Association of Kenya, we actually support the development of such regulatory framework to enhance a competitive landscape and increase customer’s choice, he added. 

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