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{
    "id": 1096104,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1096104/?format=api",
    "text_counter": 263,
    "type": "speech",
    "speaker_name": "Tharaka, DP",
    "speaker_title": "Hon. George Gitonga",
    "speaker": {
        "id": 13491,
        "legal_name": "George Gitonga Murugara",
        "slug": "george-gitonga-murugara"
    },
    "content": " Thank you very much, Hon. Temporary Deputy Speaker. At the outset, I support the Bill. I have laboured to listen to the Leader of the Majority Party trying, in mysterious ways, to pour some cold water on it when it is a well-intentioned Bill meant to take care of the small depositors who feel the loss of losing money from a collapsed bank. A billionaire may not care about Kshs100,000, Kshs500,000 or Kshs1 million. However, a small saver with deposits amounting to only Kshs3 million in a collapsed bank would feel relieved if he is able to recover Kshs1 million out of the Kshs3 million. This is what has driven Hon. Rahim Dawood to introduce the amendment. It is so that we are able to take care of the people who are at the bottom of the pyramid. This is very important. The Kenya Deposit Insurance Corporation (KDIC) took the place of what used to be known as the Deposit Protection Fund; a fund which used to be set aside to protect depositors in case of banks going down. This was rampant in the mid-1980s and towards the beginning of the 1990s. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}