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National Treasury drafting a bill to propose ways of addressing the cost of credit

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The National Treasury is drafting a bill that will propose various ways of addressing the cost of credit in the country. Treasury secretary Henry Rotich says the bill to be tabled in parliament in two months’ time will seek to replace the interest rates capping law. Parliament yesterday poured cold water on efforts by the government to repeal the interest rates law, saying it will only happen once a substantive replacement is tabled.

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