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{
    "id": 1096082,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1096082/?format=api",
    "text_counter": 241,
    "type": "speech",
    "speaker_name": "Nyaribari Chache, JP",
    "speaker_title": "Hon. Richard Tong’i",
    "speaker": {
        "id": 2611,
        "legal_name": "Richard Nyagaka Tongi",
        "slug": "richard-nyagaka-tongi"
    },
    "content": " Thank you, Hon. Temporary Deputy Speaker for the opportunity to speak to this amendment, which I think is very timely. The Bill is by my good friend and brother from another mother, Hon. Rahim Dawood, a man I have learnt to respect a lot. This is coming at a time when Kenya needs this kind of an amendment considering that in the past we have had to suffer as a country. Many people have lost a lot of money to banks which have gone under receivership because the law then provided for a maximum refund of Ksh100,000. As a banker, I will tell you from experience that there are people who deposit quite a lot of money in the banks. People put in a lot of their savings knowing that a bank is the safest place to keep one's investment. Some of them have kept money which is meant for treatment, retirement benefits, or an insurance scheme for their school- going children. They all have different reasons for putting money in their accounts in banks. In the event that the bank where they have entrusted their money in the name of deposits goes under, the beneficiary or customer suffers immensely. Some of the customers have died from shock because they cannot bear the loss and the idea that they will not get back their money, which they have worked so hard for. It could be their pension money which they had put in the bank."
}