Banks will have to increase their core capital from Sh1 billion to Sh5 billion over the next four years if Parliament adopts new amendments to the Banking Act.

Kiambu Town MP Jude Njomo, the architect of the interest rate capping law, wants banks to have minimum capital of Sh2 billion by December 31, 2019, Sh3.5 billion (2020) and Sh5 billion (2021).

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