Banker's Reference

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Banker's Reference

A letter a bank provides stating the creditworthiness of an account holder. It contains account history and similar information. Banker's references often are used in commerce when a bank is considering extending a loan and wishes to discover the likelihood of repayment.
References in periodicals archive ?
INTEREST CAPThen there was this time when a number of experts disagreed following the approval by Parliament of the interest rate capping law in 2015.Governor Njoroge chose the policy rate (the Central Bank Rate) instead of the Kenya Bankers Reference (KBRR) as the basis for calculating the cap.
Mr Koceyo says the amount overcharged on the plaintiff's account is Sh5,327,557.The loan was to be repaid at the prevailing Kenya Bankers Reference Rate (KBRR) of 21 percent.It had been further agreed that the loan would attract an additional 10 percent charge for amounts not paid on due date.
Deposits and Guarantees required: Bankers references will be required and the successful bidders will be required to provide a Parent Company Guarantee (where appropriate).