This Is The Best News In 2016 For All Those Who Had Taken Or Wish To Take Loans With Co-Operative Bank #MakeItHappen

The Co-operative Bank yesterday surprised its borrowers with the best news ever since the year began.

Last Friday, Co-operative bank’s Managing Director and CEO, Dr. Gideon Muriuki, issued a directive to all bank managers to comply with the new law that President Uhuru assented.

Also Read: Co-op Bank Becomes The First To Lower Interest Rates After President Uhuru Signed The Controversial Bill Into Law

Dr. Gideon Muriuki yesterday once again issued a memo to all branch managers clarifying the status of the existing loans.

He explained in the memo that Co-op Bank would extend the full benefit of the new law to both new and existing credit facilities.

In simpler term, the interest rate for all loans, new and old, has been restructured to comply with the new law.

Below is the memo he issued: