Kuppet wants banks stop teachers’ loan deductions over corona pandemic

Kuppet wants banks stop teachers’ loan deductions over corona pandemic

To help implement these measures, Mr Misori said, large employers who manage check-off payment systems should ensure the banks withhold deductions on interest.

A week ago, the Kenya Women Teachers Association also called on banks to extend loan repayment periods by not less than six months.

The union also urged financial institutions to waive interest accrued during that period.

The Central Bank has asked customers to talk to their lenders and seek to extend loan repayment periods.

CBK Governor Patrick Njoroge said banks should consider individual circumstances arising from the pandemic.

The Kenya National Union of Teachers (Knut) urged the government to consider suspending April, May and June rent payment for workers, including teachers.

Knut secretary-general Wilson Sossion said the suspension would cushion teachers and other employees from the adverse effects and economic challenges brought by the coronavirus.

2 Comments

error: Content is protected !!