Impact of APR pricing mechanism on bank interest rates
Hilda Mugo
Broschiertes Buch

Impact of APR pricing mechanism on bank interest rates

A study of the banking sector in Kenya

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Annual percentage rate is a pricing mechanism tool introduced by the Central bank of Kenya and Kenya bankers association, following industry consultations carried out in the banking sector in Kenya in 2013. These consultations revealed that the banks were making abnormal profits at the cost of the customer. In the new constitution of Kenya enacted in 2010, the consumer protection act section 46 explains the consumer rights and outlines that consumers have a right to protection. Therefore, the Central bank of Kenya drew up prudential guidelines that would govern this matter and see to it that t...