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{
"id": 1219013,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1219013/?format=api",
"text_counter": 156,
"type": "speech",
"speaker_name": "Molo, UDA",
"speaker_title": "Hon. Kuria Kimani",
"speaker": null,
"content": "The nominee has extensive experience in banking and I am very happy that the nominee we have here brings rich experiences having been a banker herself. Before joining the Government, she served in the banking sector. Therefore, if this House approves her nomination, she will be taking with her a skills set to the Central Bank of Kenya. In fact when we were doing the interviews, we were telling her that perhaps she was even doing the wrong job being the PS for the Ministry of Wildlife and everything else. This is where she really belongs because it matches her academic qualifications. It matches her long experience as a banker with KCB. She has also demonstrated a lot of interest, including continued membership in the Kenya Bankers Association. The nominee, in our considered opinion, meets the requirements of Chapter Six of the Constitution on leadership and integrity, having been issued with clearance certificates by the relevant agencies, including the Ethics and Anti-Corruption Commission (EACC), the Kenya Revenue Authority (KRA), the Director of Criminal Investigations (DCI), the Office of the Registrar of Political Parties (ORPP), and the Higher Education Loans Board (HELB). Hon. Temporary Speaker, we did not receive any memorandum that opposed her nomination to the position. The nominee, as I said, has in-depth knowledge of the state of the financial development in Kenya and linkages to economic sectors across the region. We put this nominee to task on the current move from the banking sector to Feature Integration Technology (FINTEK) because you realize that back in the 1990s, there was a revolution in the banking sector, all through to new millennium in 2001-2002. That was when we had a mushrooming of commercial banks, including Equity Bank, which have since progressed to greater heights. Over the years, we progressed to mobile phone banking and that could explain the success stories of mobile phone banking platforms like M-PESA and AIRTEL Money, and all the other mobile phone money transfer services. There is an interesting trend that is coming up with digital lenders. They are coming up with digital savers where most of our young people do not even hold bank accounts. They operate from their mobile phones and when they need to access loans, they go to these digital services. We asked whether she is versed with that and whether she is privy to the fact that there is not even proper legislation to regulate the same. That is why there is a lot of harassment by the operators of mobile phone lending apps. It is because there is no clear legislation and policy framework to regulate their operations. She demonstrated that she understands the field. So, once she gets into office, she will hit the road running to make sure that the FINTEK companies, which offer important financial services on digital platforms, are regulated. Hon. Temporary Speaker, we even discussed with the nominee about international stuff like crypto currencies like Bit Coin, and that is where the country is at the moment. We are talking about loss of billions or trillions of shillings in Bit Coins. Nowadays there is even a new trend of Forex Trading, where we have many people doing some legitimate business and others doing illegitimate business. Someone will tell you that they can multiply your money and enable you to make so much money through Forex Trading. If we do not move with time, these things will soon catch up with us and we will find ourselves in a situation where money has been lost. Kenyans are losing their money and there is no law that we can tie those developments to. We did put this lady, Dr. Susan, to task. I beseech this House to approves the nomination of Dr. Susan for appointment as Deputy Governor of the Central Bank of Kenya, especially at this time when we are celebrating International Women’s Day. This great, competent, qualified, experienced lady deserves to serve as the Deputy Governor of the Central Bank of Kenya. Hon. Temporary Speaker, with those remarks, I beg to move and request the Committee’s Vice Chairperson, Hon. Amb. Benjamin Lang’at, the Member for Ainamoi, to second the Motion. 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."
}