Commercial Banks still confused

Bank notes

Commercial banks have expressed confusion on how to implement the 10% increase in bank charges announced recently by finance minister.

According Minister Maria Kiwanuka, the move is expected to raise 22 billion shillings.

Players in the banking sector have however told KFM that they are yet to agree on how to implement the charge, allaying fears that the burden will be passed on to the consumer.

Housing Finance Bank’s Deputy Managing Director Paul Musoke says it is more of an internal problem among commercial banks;