Since the bill to cap interest rates was proposed in Parliament, various firms are still debating on the bill. Biznews compiles the mixed reviews of various institutions;

“The interest capping bill will crash the economy” – Bankers Association of Malawi (Bam)

“The bill will protect the innocent borrower from exploitation from banks” – Indigenous Businesses Associations of Malawi (Ibam)

“If the Interest Rate Capping Bill fails to make its way into parliament during the February sitting, we will take action” – Human Rights Defenders Coalition

“Thoroughly assess the impact of the bill if it is passed” -The Private Sector

“Policy makers should use studies to decide whether or not to cap interest” – Alliance Capital

The bill stirred controversy in parliament in December 2018 as it was rumored that money changed hands to get members of parliament to propose and oppose the bill. As various firms debate about the matter, all agree that the interest rate is high; they only differ on setting a regulated interest rate.