Never miss a beat on Africa's legal and regulatory landscape.
The term “In Duplum” comes from Latin meaning “in double”. This rule may sound mystical but it is a legal shield that prevents interest on non-performing loans from exceeding the maximum loan amount. This limitation aims to prevent excessive interest accumulation and prot..
The High Court held the in duplum rule in Section 44 of the Banking Act does not apply to non-deposit taking microfinance institutions.[i] The rule limits interest accrual to equal the principal amount outstanding when a loan becomes non-performing. We a..
