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{
    "id": 229927,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/229927/?format=api",
    "text_counter": 184,
    "type": "speech",
    "speaker_name": "Prof. Anyang'-Nyong'o",
    "speaker_title": "",
    "speaker": {
        "id": 193,
        "legal_name": "Peter Anyang' Nyong'o",
        "slug": "peter-nyongo"
    },
    "content": "Mr. Temporary Deputy Chairman, Sir, this is a very important point. The point that the hon. Members are making, and the steps that the Minister is proposing, should be understood very carefully. Section 44 says: \"No institution shall increase its rate of banking or other charges except with the prior approval of the Minister\". Mr. Temporary Deputy Chairman, Sir, this is a protective clause. It is not giving the Minister the originating action to cause rates to be increased or reduced. It is a cautionary statement that tells banks that there is a power somewhere which is overseeing them and ensuring that they do not go overboard. This protective clause is extremely important to the Kenyan people, and the Government of Kenya must own it to ensure that banks do not become rogues."
}