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{
    "id": 235272,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/235272/?format=api",
    "text_counter": 415,
    "type": "speech",
    "speaker_name": "Mr. Kimunya",
    "speaker_title": "The Minister for Finance",
    "speaker": {
        "id": 174,
        "legal_name": "Amos Muhinga Kimunya",
        "slug": "amos-kimunya"
    },
    "content": " Mr. Temporary Deputy Chairman, Sir, with capital now flowing across the globe, it is very easy for a bank to start operations in Nairobi, then open a branch in country X and transfer all its Kenyan money to that country. We would then not have control over country X. That is why we are trying to make sure that a Kenyan bank is known by its branches both in and outside Kenya, and that our Banking Act can extend, in terms of the public money invested, to branches in Kenya and elsewhere. It is really an administrative regulation to help in the better management of our money for public confidence purposes."
}