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{
    "id": 1563134,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1563134/?format=api",
    "text_counter": 274,
    "type": "speech",
    "speaker_name": "Sen. Cherarkey",
    "speaker_title": "",
    "speaker": {
        "id": 13217,
        "legal_name": "Cherarkey K Samson",
        "slug": "cherarkey-k-samson"
    },
    "content": "The Deputy Speaker corrected me. In conclusion, I want to say something regarding the commercial bank accounts that counties are allowed to open and operate. I am happy that the Committee on Devolution and Intergovernmental Relations is looking into the matter. I do not know if the County Public Investments and Special Funds Committee is also looking at that matter. Why would somebody allow Tana River County to operate 34 commercial bank accounts without supervision? What is the role of the Central Bank of Kenya Board? Kakamega County has 200 commercial bank accounts. What is the role of Central Bank of Kenya Board under Section 10 of the CBK Act Cap 491, Laws of Kenya? It is oversight that is provided under Section 10 of the Central Bank Act. My third point is on the issue of Governor’s performance. We have been told that the inflation rate is looking better and the same applies to the economy and the exchange rate. For the first time, the Dollar has stabilized against the Shilling, at Kshs130. We thank President Ruto’s Government for this financial management. We also appreciate him for ensuring that the Governor has the option of performance. The work of the Central Bank of Kenya Board is now cut out. We want to challenge David Simpson Osawa Owuor, Madam Beatrice Kosgei, CPA Abdullahi Mohamed Abdi and FCPA Sophie Moturi to rise up to the occasion under the chairmanship of the Board of the Central Bank of Kenya. We want our banks to do business, but not to profiteer or exploit Kenyans who are doing business, especially the SMEs. It is for this reason that we have the success story of the Hustler Fund. We want to ask the Board as it sets in to ensure that the conditions of loan borrowing by the small businesses and startup businesses are conducive. They should even encourage tax holidays for the small kiosk businesses in Kirinyaga Road, Nairobi. The same should apply to the small businesses in Namgoi in Nandi County and the small businesses in Mombasa or Majengo in Vihiga County. If they do, then the young man or woman who doe not have collateral security like the title deed or logbook, can walk into a commercial bank and get fair conditions of loan, and be able to start up a business and build a serious empire in this country."
}