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{
    "id": 1096080,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1096080/?format=api",
    "text_counter": 239,
    "type": "speech",
    "speaker_name": "Kisumu East, Independent",
    "speaker_title": "Hon. Shakeel Shabbir",
    "speaker": {
        "id": 140,
        "legal_name": "Ahmed Shakeel Shabbir Ahmed",
        "slug": "shakeel-shabbir"
    },
    "content": "but here you are trying to talk about a sinking fund of Ksh130 billion versus a potential of Ksh1 trillion. Hon. Rahim is telling us that the potential of deposits can go up to over Ksh4 trillion. So, even if it goes to over Ksh4 trillion, if you are a banker, an insurer, or an actuarialist, you would want to work out a percentage of, say, Ksh1 trillion. How much will that be and how much would be the sinking fund that the KDIC should be holding? There is no point of saying a million shillings and yet one has, say, Ksh130 billion in the account. So, if the bank goes under, the whole sinking fund is finished. So we want to put it together. First, is the National Treasury through the Budget and Appropriations Committee able to raise the sinking fund to Ksh1 trillion? If that is the case, what is the actual risk involved? Secondly, do we put the percentage of the bank’s requirement to a certain percentage that will raise the sinking fund to Ksh1 trillion? So, Hon. Temporary Deputy Speaker, I support this Bill, but for the reasons of practicality, it cannot happen this way. Let it go through a legal notice that can constantly be regulated by the CBK and this House. I support but with those reservations."
}