May 29, 2018 / 9:04 AM / 3 months ago

Kenya's new proposed financial sector law will 'emasculate" the central bank - governor

NAIROBI, May 29 (Reuters) - The Kenyan Finance Ministry’s new proposed law aimed at regulating the financial sector will ‘emasculate” the central bank, and fails to address a cap on commercial lending rates, its governor said on Tuesday.

“The bill emasculates the central bank. CBK is under attack,” Patrick Njoroge told a news conference. (Reporting by Duncan Miriri; Editing by George Obulutsa and Raissa Kasolowsky)

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