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{
    "id": 1096133,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1096133/?format=api",
    "text_counter": 292,
    "type": "speech",
    "speaker_name": "Funyula, ODM",
    "speaker_title": "Hon. (Dr.) Wilberforce Oundo",
    "speaker": {
        "id": 13331,
        "legal_name": "Wilberforce Ojiambo Oundo",
        "slug": "wilberforce-ojiambo-oundo-2"
    },
    "content": "Secondly, it also presupposes at one time or another a deposit-taking institution will have challenges and collapse due to external, internal, extraneous and local factors. What happens therefore, in the event a deposit-taking institution has challenges meeting their obligations? It is possible this is an inherent risk in the banking industry or financial institutions. There are other mechanisms. The first mechanism is the deposit-taking institutions manage the risks on their own. Secondly, they transfer the risk. Is it with this wisdom that the Kenya Deposit Insurance Fund and the KDIC was created under the Kenya Deposit Insurance Act? The issue here is, who is a depositor who stands to lose most? Who is a depositor who stands to lose less? Who is a depositor who can withstand the loss? Who is a depositor who can manage the loss of his deposits? It is probably on this basis that the principal Act set Ksh100,000 and the regulations attendant to it set Ksh500,000 as the amount to be compensated in the event of a financial institution collapsing."
}