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{
    "id": 1393610,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1393610/?format=api",
    "text_counter": 40,
    "type": "speech",
    "speaker_name": "Sen. Ali Roba",
    "speaker_title": "",
    "speaker": null,
    "content": "Mr. Speaker, Sir, this is a petition regarding regulation of credit profession that was submitted by CCP Mokaya Magembi Bernard. It is the right of every Kenyan citizen to petition public authorities and Parliament as offered in the Constitution under Articles 37 and 119. Further to the Petition to Parliament, Procedure Act No.22 of 2012 makes provision for the procedure for the exercise of the right to petition and defines the format of the petition to be addressed to Parliament. Pursuant to Standing Orders No.232 (1) (a) and 236 (2) (b) of the Senate Standing Orders, on the 23rd May, 2023, a public petition concerning regulation of credit profession was presented to the Senate. The Petition has been submitted to the Office of the Clerk by members of the Council of Institute of Credit Management Kenya (ICM-K), led by CCP Mokaya Magembe Benard, who is the chairman. The petitioners prayed that the Senate enacts legislation to regulate the credit profession. The Committee considered this Petition with a view to determining whether the matters raised therein merit intervention by legislature. During its inquiry and engagement with petitioners and relevant stakeholders, such as the Central Bank of Kenya (CBK), the Committee found that credit professionals are increasingly playing a vital role in the economy, especially in the sectors dominated by financial institutions. The credit professionals primarily undertake credit management, including determination of the credit worthiness of customers, managing relationships between the lender and a customer, mitigating against financial loss by assessing the credit risk of financial institutions, and developing credit policies for financial institutions. The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Director, Hansard and AudioServices, Senate."
}