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{
    "id": 277176,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/277176/?format=api",
    "text_counter": 1012,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "The Banking Act is amended in the Second Schedule by deleting the proviso appearing in paragraph (d). I think in 2009, the core capital of banks and mortgage finance companies was increased to Kshs1 billion. This particular amendment is proposing to revise that downwards by deleting that requirement to Kshs250 million. Basically, this will help other interested Kenyans with capacity, who can raise at least Kshs250 million to also start banks. This will help make the banking sector even more competitive as my colleague from the Government side was saying. Mr. Temporary Deputy Chairman, I want to put it that before, the core capital of the banks and the mortgage finance companies was very low. That is why---"
}