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{
    "id": 14605,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/14605/?format=api",
    "text_counter": 579,
    "type": "speech",
    "speaker_name": "Dr. Oburu",
    "speaker_title": "The Assistant Minister, Office of the Deputy Prime Minister and Ministry of Finance",
    "speaker": {
        "id": 194,
        "legal_name": "Oburu Ngona Odinga",
        "slug": "oburu-odinga"
    },
    "content": " Madam Temporary Deputy Speaker, that is something that we will look at positively because it is meant to strengthen the Bill. We will consider it when we are presenting the Bill at that time. He also raised the issues about the EAC which are important. We want to be a financial hub and that is one of the objectives of this Bill and to improve the situation so that investors feel safe when they come to invest in our country. The points raised by hon. Njuguna were the same. He also raised the same issue you raised about punishment and we will take that into consideration. He also talked about application which is not stated. The Bill provides for regulations. The Deputy Prime Minister and Minister for Finance will provide for regulations which will give details of how you apply and the fee you pay when you apply. That will be part of the subsidiary legislation which will also come to this Parliament. Pyramid schemes have been illegal and they are not under the supervision of the Central Bank of Kenya. These are by people who are stealing wananchi’s money. Some of them were arrested. However, we did not have proper laws. Some of the proposals here might take care of them. We are proposing to bring before this Parliament a Bill like the one in Tanzania which will specifically deal with the pyramid schemes and take care of some of the concerns of Members. It has been quite a thorn in our flesh. We have tried to answer questions here but unsatisfactorily. This is because the issues raised are very emotive. I want to thank everybody who contributed; hon. Ogindo, hon. Namwamba and everybody else for the points they raised which are very important. We will take them into consideration. With those few remarks, I beg to move."
}