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{
    "id": 124051,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/124051/?format=api",
    "text_counter": 239,
    "type": "speech",
    "speaker_name": "Mr. Raila",
    "speaker_title": "The Prime Minister",
    "speaker": {
        "id": 195,
        "legal_name": "Raila Amolo Odinga",
        "slug": "raila-odinga"
    },
    "content": " Madam Temporary Deputy Speaker, this is a very important Bill and I would have liked to see a full House discuss it. I rise to second this Bill which is very important. It is not the first time that this Bill has been brought before this House. It has been brought before this House before and I know the reasons which have been advanced in the past to oppose it. We are meeting now against a background of a changed international climate in as far as international crimes and money laundering is concerned. Last year, we went through a major international financial crisis. It started almost as a joke and then escalated and eventually caught the whole world. At first when it started, it was confined in the United States of America (USA) starting with the real estate. It then expanded to Europe then to Asia. Some people were predicting that Africa and the rest of Third World would be spared because these economies are not very much tied to the global financial systems. That was then but Africa, like many other parts of the world, was adversely affected by the global meltdown. We suffered in this country when we saw the demand for our major exports slump. We also saw the prices of exports plummet. We also saw the number of tourists coming to our country reduce substantially. We also suffered when we saw that the remittances that come from Kenyans in the Diaspora also reduce substantially. That shows the inter-connectedness of the entire world today. We live in a global world. Madam Temporary Deputy Speaker, many discussions took place in various parts of the world when the crisis struck. It has now been suggested that it is time to restructure the international financial architecture. It has also been suggested that it is time the Bretton Woods institutions were restructured. Against this background, we are today debating the Proceeds of Crime and Anti-Money Laundering Bill. We must accept that money laundering is a real phenomenon and that it negatively affects economies across the world. There may be temporary gains that are received but eventually the outcome is"
}