Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 804923,
    "url": "http://info.mzalendo.com/api/v0.1/hansard/entries/804923/?format=api",
    "text_counter": 201,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Other ongoing initiatives include the digitization of land titling processes, development of a functional collateral registry to support provision of affordable credit to Kenyan businesses and individuals and implementation of the Treasury Mobile Direct and M-Akiba to offer retail individuals alternative savings mechanism, thus indirectly compelling formal financial services providers to offer competitive savings rates. The aforementioned reforms will not only address shortcomings in the credit market, but will also catalyse provision of credit to support the Government’s Big Four Plan. The next part of my Statement focuses on proposed amendments to various Acts which mainly targets the financial sector. On capital markets, the capital markets play a critical role in our economy and facilitate investment growth in the country. In this context, our capital markets require progressive regulatory framework to enhance investor confidence as well as regulate players in the financial sector. Therefore, I propose to amend the Capital Markets Act to introduce enhanced financial controls and provide for investor protection in the sector. In the Retirement Benefits Act, we have cases of some employers who have failed to remit pension contributions to their respective retirement benefit schemes. In order to compel employers to remit the pension contributions, I propose to amend the Retirement Benefits Act to enable the Authority intervene against any employers who fails to remit such contributions to the scheme. As you recall in the year 2016, I introduced amendments to the Retirement Benefits The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor."
}