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{
    "id": 277239,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/277239/?format=api",
    "text_counter": 1075,
    "type": "speech",
    "speaker_name": "Mr. Githae",
    "speaker_title": "The Minister for Finance",
    "speaker": {
        "id": 159,
        "legal_name": "Robinson Njeru Githae",
        "slug": "robinson-githae"
    },
    "content": " Thank you, Mr. Temporary Deputy Chairman, Sir. I just want to say one thing; the cause of the banking crisis in 1980 was the low capitalization and that is why Central Bank has, over the years, been increasing the capital for banks. We are encouraging mergers, and a few banks have merged. We are encouraging amalgamations. So, if you are a small bank, the way is to merge or to amalgamate with another one, or to be taken over by another bank. Let me come to the argument that we are closing the door on other people; we are not doing that. As of now, you can start a bureau society, SACCO or microfinance company with very low capitalization. So, we are not closing. Once you have grown, like the way you have mentioned Family Bank and Equity Bank, then you can apply to be a bank."
}