THE REGULATION OF EMERGING LENDING TRENDS IN KENYA: A LOOK AT SHYLOCK OPERATIONS.

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ABSTRACT
Shylock operations are loaning scheme where individuals grant low amounts of loans to low income individuals for a short time with higher interest rates than the allowed rates in the land. Shylock operations have been legalized in some regions of the world and consequently properly instituted policies have been put in place to regulate its operations.
This dissertation aims to examine the operations of shylocks in Kenya and explore their regulation, if any and whether these regulations that are put in place are effective. Further, the study looks into the effect that these operations have on the society and the economy and specifically, the banking industry and other Micro Finance Institutions. Seemingly, shylock operations are becoming increasingly popular and most of these operations are not registered or legitimate thus creating a problem in the banking industry and for Micro Finance Institutions in general.
The aim of this research will be to analyze the regulations put in place, how effective these regulations are and any social and economic effects that shylock operations have on the banking industry and in the country at large. In the process of this research, the reasons for increase in such operations and the need they are serving as well as ways of legitimizing these operations or ensuring the protection of their customers or people who out of desperation, turn to them and are swindled or lose their money will be established. Moreover the study seeks to establish whether there are measures which have been put in place to curb increase of shylock operations in Kenya.

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