Our preference is to keep the policy simple and effective by not having major exemptions and by minimising the possibilities for avoidance. If for example there was a carve-out for small businesses, the potential for avoidance would increase markedly as individual borrowers set up companies for borrowing purposes.
Patrick Njoroge: The role of banks and the securities markets in curbing the movement of illicit financial flows Remarks by Dr Patrick Njoroge, Governor of the Central Bank of Kenya, at the 2nd Annual General Meeting and Conference of African Organization of Public Account Committees (AFROPAC), Nairobi, 30 August 2016.