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{
    "id": 1346136,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1346136/?format=api",
    "text_counter": 28,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "in addition to the existing associations, the Petitioner is convinced that the industry requires the establishment of a robust legislative framework that regulates the norms and standards of banking professionals in Kenya thus ensuring professionalism, integrity, and accountability of bankers in safeguarding the interests of customers, and promoting public trust. The Petitioner explains that the impetus is a result of the collapse of Imperial Bank in 2015 following fraudulent activities. Investigations disclosed that the top management of the bank, including its former CEO, was implicated in a massive fraud scheme that involved concealing non-performing loans, creating fictitious accounts, and siphoning of funds from depositors. Consequently, the bank was closed, and its depositors and investors incurred significant losses, and thereafter concerns were raised about corporate governance in the banking sector."
}