A shylock shop in Mombasa's Kisauni area on April 17, 2021. Unregulated money lenders will be regulated for the first time in 39 years if a proposal tabled in Parliament is passed.
Unregulated money lenders, commonly known as shylocks, will be regulated for the first time in 39 years if a proposal tabled in Parliament is passed.
Locked out of credit from regulated financial institutions such as banks and Saccos and hit by the rising cost of living and doing business, individuals and small businesses often turn to shylocks for quick loans.
