Parliamentary committee halts proposed CBK credit regulations over legal flaws

In brief

The National Assembly’s Delegated Legislation Committee has directed the Central Bank of Kenya (CBK) to suspend the rollout of proposed regulations governing non-deposit-taking credit providers over concerns about excessive administrative powers, unlawful penalties, and poor legal drafting. Chaired by Samuel Chepkonga (Ainabkoi MP), the Committee questioned whether the proposed regulations complied with the…