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"content": "Madam Temporary Deputy, these are some of the developments that we are proposing because under the Mortgage Loans Regulations 2009, Section 8, it has been proposed that a guarantee under these regulations shall not exceed at the time it is furnished, 60 per cent of the accrued benefit which the hon. Member would be entitled to under the scheme rules. In other words, we are now allowing Kenyans to use up to 60 per cent of their accrued benefits to take a house loan to purchase a house, repair and carry out renovations on property. Years ago when this rule was introduced, when there was clamor for this, it took time until this year. Republic of South Africa did it way back in 2001 to allow their citizens access this facility by using it as a guarantee to purchase homes. Madam Temporary Deputy Speaker, in Kenya today after asking the Government severally to amend or lift the restriction under the RBA, this Government has not been willing to do so, for reason that they will need to invest this money on behalf of Kenyans. It is a good intention, but if anyone was to take your money and tell you that they will keep it for you because you are not responsible enough; if they gave you this money you will squander it. They will keep it for you and invest it for you until you reach that retirement age, this is not a good image of a country. We are portraying an image of a nation of delinquents who are not able to take charge of their own affairs. If, indeed, we believe that no one amongst us is capable of governing himself or his affairs, then who among us can be trusted to govern someone else or the affairs of others, say 30 million Kenyans? The time has come when we, as a nation, must have faith"
}