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"content": "be published in the newspapers, so that Kenyans can know which banks are charging what interest rates and which banks are over-charging their clients. The bone of contention is that capping interest rates will hurt the same vulnerable group that we are trying to protect. The bankers are saying that if we cap the interest rates, they will ration the credit and obviously, they will give it to the Triple “A” kind of borrowers. In my view, what is required is for the interest rates to come down. If we do that, there will be no need of capping the interest rates. Madam Temporary Deputy Speaker, concerning the super profits that banks have been accused of making, if banks are making super profits what is required is not capping of interest rates. What is required is coming up with a law to tax the super profits. This happens in England. When their utility companies, particularly water companies were making super profits, the British Government stepped in and imposed a Super Profit Tax, which was far above the normal Corporation Tax of 30 per cent. In some cases, it went as high as 67 per cent."
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