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150 Pages«<142143144145146>»
Law Capping interest rates
MaichBlack
#2861 Posted : Sunday, October 20, 2019 9:33:09 AM
Rank: Elder


Joined: 7/22/2009
Posts: 7,321
Ericsson wrote:
Will the repeal in interest rates cap law have an effect on Fuliza which the president called digital shylocks

Not so much given the amounts involved and payment duration. No one wants to go to the bank to fill forms to borrow 2k which they are planning to repay in a couple of weeks.

But for lenders giving 20k and above, business will tank. Probably by more than 60%!!! I am not sure of the average amounts borrowed per transaction in fuliza but I would imagine they are hundreds to a few thousands. If it is tens of thousands (which I highly doubt), they will also be affected.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
MaichBlack
#2862 Posted : Sunday, October 20, 2019 9:59:59 AM
Rank: Elder


Joined: 7/22/2009
Posts: 7,321
MaichBlack wrote:
FUNKY wrote:
https://www.nation.co.ke/news/MPs-to-defy-Uhuru-over-loan-rate-caps/1056-5315586-15j4ggtz/index.html ^

Good luck to them Marshalling the required 2/3 majority!! They are just politicking and they know it. Most of these cowards will not even be in the house when the vote is taken.

CBK + Treasury + President vs MPigs!!! Good luck with that. And the President just requires 1/3 (which includes all absentees!!). Do the Math.

But I totally love this bravado!!!

I wanted to load up my kids on KCB but I have been waiting for the price to drop. No chance of that happening WHEN the interest cap is repealed. At least this noise keeps the price where it is and gives me a chance to buy before prices head north!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
FUNKY
#2863 Posted : Monday, October 21, 2019 3:54:44 PM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,544
Ericsson
#2864 Posted : Thursday, October 24, 2019 1:17:47 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,630
Location: NAIROBI
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities
MaichBlack
#2865 Posted : Thursday, October 24, 2019 1:53:50 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,321
Ericsson wrote:
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities

You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none.

The amendment will only be done if the President wants it to be.

MPigs made the wrong move. Recovering from that move is tough!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
MaichBlack
#2866 Posted : Thursday, October 24, 2019 1:55:45 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,321
Watu wa mortgage watajua mnyambuliko wa vitenzi ni nini!!??

And selling is tough in this market!!! Hata renting out has become a problem!

For the first time ever, I have heard people successfully negotiating rents for houses they have occupied for years downwards!!! Ni kama findio ni kama dlama!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
Horton
#2867 Posted : Thursday, October 24, 2019 2:57:31 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,484
Location: Nairobi
MaichBlack wrote:
Ericsson wrote:
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities

You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none.

The amendment will only be done if the President wants it to be.

MPigs made the wrong move. Recovering from that move is tough!!



Is there a d-day to which this must be debated/passed?
MaichBlack
#2868 Posted : Thursday, October 24, 2019 3:09:08 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,321
Horton wrote:
MaichBlack wrote:
Ericsson wrote:
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities

You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none.

The amendment will only be done if the President wants it to be.

MPigs made the wrong move. Recovering from that move is tough!!



Is there a d-day to which this must be debated/passed?

I am guessing 14 days but I am not sure. They cannot sit on it!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
Fyatu
#2869 Posted : Thursday, October 24, 2019 4:17:33 PM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,634
Location: Nakuru
MaichBlack wrote:
Horton wrote:
MaichBlack wrote:
Ericsson wrote:
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities

You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none.

The amendment will only be done if the President wants it to be.

MPigs made the wrong move. Recovering from that move is tough!!



Is there a d-day to which this must be debated/passed?

I am guessing 14 days but I am not sure. They cannot sit on it!



Immediately after recess which happens to be the first week of November.
Dumb money becomes dumb only when it listens to smart money
Monk
#2870 Posted : Thursday, October 24, 2019 5:51:45 PM
Rank: Member


Joined: 7/1/2009
Posts: 111
Fyatu wrote:
MaichBlack wrote:
Horton wrote:
MaichBlack wrote:
Ericsson wrote:
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities

You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none.

The amendment will only be done if the President wants it to be.

MPigs made the wrong move. Recovering from that move is tough!!



Is there a d-day to which this must be debated/passed?

I am guessing 14 days but I am not sure. They cannot sit on it!


Immediately after recess which happens to be the first week of November.


I thought the court gave them 12 months from date of ruling, ie March 2019?
Horton
#2871 Posted : Thursday, October 24, 2019 5:53:53 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,484
Location: Nairobi
Monk wrote:
Fyatu wrote:
MaichBlack wrote:
Horton wrote:
MaichBlack wrote:
Ericsson wrote:
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities

You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none.

The amendment will only be done if the President wants it to be.

MPigs made the wrong move. Recovering from that move is tough!!



Is there a d-day to which this must be debated/passed?

I am guessing 14 days but I am not sure. They cannot sit on it!


Immediately after recess which happens to be the first week of November.


I thought the court gave them 12 months from date of ruling, ie March 2019?


Right so safe to assume worst case scenario March 2020?
MaichBlack
#2872 Posted : Thursday, October 24, 2019 6:31:50 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,321
Monk wrote:
Fyatu wrote:
MaichBlack wrote:
Horton wrote:
MaichBlack wrote:
Ericsson wrote:
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities

You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none.

The amendment will only be done if the President wants it to be.

MPigs made the wrong move. Recovering from that move is tough!!



Is there a d-day to which this must be debated/passed?

I am guessing 14 days but I am not sure. They cannot sit on it!


Immediately after recess which happens to be the first week of November.


I thought the court gave them 12 months from date of ruling, ie March 2019?

You are getting things mixed up. This has nothing to do with the courts. The government wants to repeal interest rate controls because it is bad for the economy. Period. Not because the court said so.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
Fyatu
#2873 Posted : Thursday, October 24, 2019 6:34:19 PM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,634
Location: Nakuru
Monk wrote:
Fyatu wrote:
MaichBlack wrote:
Horton wrote:
MaichBlack wrote:
Ericsson wrote:
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities

You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none.

The amendment will only be done if the President wants it to be.

MPigs made the wrong move. Recovering from that move is tough!!



Is there a d-day to which this must be debated/passed?

I am guessing 14 days but I am not sure. They cannot sit on it!


Immediately after recess which happens to be the first week of November.


I thought the court gave them 12 months from date of ruling, ie March 2019?


President Uhuru did not sign the bill, rather he sent it to parliament with specific instructions that MPs throw it(bill) out of the window. CS Yattani is on record saying that this is expected to happen immediately parliament resumes session in November.
Dumb money becomes dumb only when it listens to smart money
MaichBlack
#2874 Posted : Thursday, October 24, 2019 6:36:20 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,321
Sad that it took the government this long to realise something we realised and stated here before the president appended his signature on the interest control bill!!!

I can never give a random individual a loan at the same rate as Safaricom or BAT. I can never give KQ a loan at the same rate as EABL!!! A first year economics student knows this!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
Rongla
#2875 Posted : Thursday, October 24, 2019 7:39:15 PM
Rank: Member


Joined: 10/3/2008
Posts: 94
MaichBlack wrote:
Sad that it took the government this long to realise something we realised and stated here before the president appended his signature on the interest control bill!!!

I can never give a random individual a loan at the same rate as Safaricom or BAT. I can never give KQ a loan at the same rate as EABL!!! A first year economics student knows this!!!


That was exactly what the banks were doing before the rate cap. They were literally abusing the goodwill of their good customers by over charging them high interest to carter for their Non performing loans.

Even if the rate cap goes, measures should be put in place to protect goid borrowers. The CRB is not enough
obiero
#2876 Posted : Thursday, October 24, 2019 7:46:15 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,383
Location: nairobi
Rongla wrote:
MaichBlack wrote:
Sad that it took the government this long to realise something we realised and stated here before the president appended his signature on the interest control bill!!!

I can never give a random individual a loan at the same rate as Safaricom or BAT. I can never give KQ a loan at the same rate as EABL!!! A first year economics student knows this!!!


That was exactly what the banks were doing before the rate cap. They were literally abusing the goodwill of their good customers by over charging them high interest to carter for their Non performing loans.

Even if the rate cap goes, measures should be put in place to protect goid borrowers. The CRB is not enough

@rongla speaks sense
COOP 5,500 ABP12.6; HF 2,000 ABP 5.90; KCB 7,500 ABP 36; KNRE 100,000 ABP 2.90; KQ 221,100 ABP 12.68
Horton
#2877 Posted : Thursday, October 24, 2019 8:50:05 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,484
Location: Nairobi
obiero wrote:
Rongla wrote:
MaichBlack wrote:
Sad that it took the government this long to realise something we realised and stated here before the president appended his signature on the interest control bill!!!

I can never give a random individual a loan at the same rate as Safaricom or BAT. I can never give KQ a loan at the same rate as EABL!!! A first year economics student knows this!!!


That was exactly what the banks were doing before the rate cap. They were literally abusing the goodwill of their good customers by over charging them high interest to carter for their Non performing loans.

Even if the rate cap goes, measures should be put in place to protect goid borrowers. The CRB is not enough

@rongla speaks sense


@rongla how do you propose the banks price their risk?
ngapat
#2878 Posted : Thursday, October 24, 2019 8:59:51 PM
Rank: Member


Joined: 12/11/2006
Posts: 839
Cap should be maintained but adjusted. They can slightly increase the interest margins. They could also classify loans i.e secured and non secured. The can then widen the interest margins on non secured loans
“Invest in yourself. Your career is the engine of your wealth.”
MaichBlack
#2879 Posted : Thursday, October 24, 2019 11:04:42 PM
Rank: Elder


Joined: 7/22/2009
Posts: 7,321
ngapat wrote:
Cap should be maintained but adjusted. They can slightly increase the interest margins. They could also classify loans i.e secured and non secured. The can then widen the interest margins on non secured loans

All these suggestions/ideas have been overtaken by time.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
Ericsson
#2880 Posted : Thursday, October 24, 2019 11:14:04 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,630
Location: NAIROBI
MaichBlack wrote:
ngapat wrote:
Cap should be maintained but adjusted. They can slightly increase the interest margins. They could also classify loans i.e secured and non secured. The can then widen the interest margins on non secured loans

All these suggestions/ideas have been overtaken by time.


If the caps remained the economy was grinding to a halt.
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