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{
    "id": 29984,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/29984/?format=api",
    "text_counter": 733,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Secondly, when such banks go ahead to begin outsourcing a lot of their functions for no obvious reasons, because I know Kenya can perform these functions, it is bad. This way, they begin repatriating a lot of capital out of this country. I think the Central Bank of Kenya should be much more strict when requests are made by these banks to outsource some of their functions or to open up centres of excellence for managing the affairs of these banks outside Kenya, and then for such policies essentially to be made by managers who are not Kenyans. These are practices which are very dangerous to safeguarding our assets in these banks as a nation. I hope that the Central Bank will wake up to it and put its foot down as, indeed, the Ghanaians did in Ghana when some of the banks tried to do so. Let us not carry or own financial liberalism too far to the detriment of capital formation in this country."
}