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{
    "id": 1241364,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1241364/?format=api",
    "text_counter": 54,
    "type": "speech",
    "speaker_name": "Sen. Kisang’",
    "speaker_title": "",
    "speaker": null,
    "content": "Thank you, Mr. Deputy Speaker, Sir. I rise to support the Petition on Credit --- not really credit institutions. I think there is an issue here. I believe most credit institutions that operate are shylocks. The Central Bank of Kenya (CBK) is not doing its job. The CBK is the one that should ensure that the credit institutions that lend money, as Sen. Omogeni has said, should be put under the radar so that, the interest rates they charge are not ridiculous. This is because people take their logbooks there, title deeds and they charge you an interest of up to 30 percent per month. Some people have lost land and vehicles because of these institutions. They do not charge within the rates that have been set by Central Bank of Kenya, which is about 14 to 15 percent. So, ICPAK is there as the institute that regulates professionals in this sector. We have accountants, financial risk managers and the insurance on the other side of the insurance risk to ensure that people are not taken advantage of. The CBK is not doing its inspection role properly. This is what we need to interrogate, not the registration of the professionals because these are financial institutions. There is an issue that we need to check here so that our people are not fleeced or taken advantage of and their properties are not sold. Many people have died because of being taken advantage of by these bureaus. This is a serious matter that the Committee needs to look into. I believe it is the Senate Standing Committee on Finance and Budget so that our people can be saved. Hon. Sen. Osotsi brought up something about the Information and Communication Technology (ICT) professionals on cybersecurity and outside. We pushed until we agreed. There are some professionals also who do not have relevant papers in ICT but they were fighting the Bill. I do not know what happened because we pushed it until we passed it in the National Assembly then. I believe that we can revive it so that our sector can also be regulated. On the Nyeri issue of the instructors, I believe we need to push that too. This House should come up with a resolution to compel the County Government of Nyeri to employ those instructors on a permanent and pensionable basis like the rest of the counties. Otherwise, it is unfair that it is only one or two counties that did not take in the"
}