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{
    "id": 1096111,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1096111/?format=api",
    "text_counter": 270,
    "type": "speech",
    "speaker_name": "Tigania West, JP",
    "speaker_title": "Hon. John Mutunga",
    "speaker": {
        "id": 13495,
        "legal_name": "John Kanyuithia Mutunga",
        "slug": "john-kanyuithia-mutunga"
    },
    "content": " Thank you, Hon. Temporary Deputy Speaker for the opportunity to add my voice to the voices of my colleagues who have spoken for and against the Bill. We are all aware of what has happened in Kenya over time. Banks have collapsed. People have lost their livelihoods and savings. Any effort to assure people of their livelihoods and savings is welcome. That is why I support the Bill and the effort to increase the amount of money that one would recover in the event that a bank collapses. We are also aware of what happened in the past. It is important for us to encourage Kenyans to open up banks. If Kenyans did not have confidence in banks like Equity Bank and the Kenya Commercial Bank, they would currently not be international banks. Equity Bank was a building society that has now grown into an international bank because of the support it got from Kenyans which was derived from the confidence that they had in that bank and many others. Most small-income earners are savers. Most banks are sustained by small savings. When a bank collapses, the greater majority of people who suffer are small savers. Looking at the statistics of what happens in those banks, most people who have a lot of money borrow money from the small people. In other words, the small support the big. Therefore, opening up the bracket increases the number of people who will be saving in our banks and that gives them confidence that they will not lose their livelihoods or savings and, therefore, can save more. That is why I support the Bill. 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."
}