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"id": 1097510,
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"type": "speech",
"speaker_name": "Mukurweini, JP",
"speaker_title": "Hon. Anthony Kiai",
"speaker": {
"id": 13439,
"legal_name": "Anthony Githiaka Kiai",
"slug": "anthony-githiaka-kiai"
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"content": "Under the current law, banks are prohibited from charging over 100 per cent interest on the principal amount. That is not applicable to the credit lenders. Why? Because there are no laws and regulations. Time has come to bring about a law that governs this. This piece of legislation is not only timely, but will save many of the desperate cases from being consumed by the digital lenders. I also note that quite a number of them are on this platform or the other. You borrow from this platform to repay the other. You borrow here to pay there. It is unsustainable. Having said that, I support this piece of legislation. It is very timely. Thank you, Hon. Temporary Deputy Speaker."
}