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"id": 1096134,
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"type": "speech",
"speaker_name": "Funyula, ODM",
"speaker_title": "Hon. (Dr.) Wilberforce Oundo",
"speaker": {
"id": 13331,
"legal_name": "Wilberforce Ojiambo Oundo",
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"content": "Why do financial institutions collapse? That is the question. Should they actually collapse in the first instance? There are provisions in the Banking Act and this subject Act that give the CBK, the corporation itself and other government agencies the authority and the power to supervise banks to an extent that banks do not collapse. From the first instance, if you are making a decision to deposit your money or invest, there is an expectation that any depositor will take a bit of due diligence to assess and test whether the financial institution has got capacity to manage their deposits. There is a shared risk and expectation that the depositor will not fall prey to sweet 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."
}