Days Are Numbered For Digital Money Lenders And Shylocks

Digital Money Lenders And Shylocks

TweetShareSharePin22 SharesIn a law barring their operation without the authority of the Central Bank of Kenya, an MP has moved to rid the country of unlicensed digital money lenders and shylocks. According to nominated MP Gideon Keter, the role of CBK should be expanded for it to license and regulate all persons, institutions, or firms lending money to Kenyans. This means that if it is passed, it would be illegal for any person, institution, or firm from lending money to Kenyans unless licensed by the Central Bank of Kenya. CBK…

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