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{
    "id": 315803,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/315803/?format=api",
    "text_counter": 75,
    "type": "speech",
    "speaker_name": "Mr. Cheptumo",
    "speaker_title": "",
    "speaker": {
        "id": 50,
        "legal_name": "William Cheptumo Kipkiror",
        "slug": "william-kipkiror"
    },
    "content": "Mr. Speaker, Sir, indeed, when this Question came before the House on 2nd August, 2012, hon. Kabogo raised that issue. I undertook to confirm two issues; the issue as to really why the bank was closed. With regard to the closure, I have been able to confirm today here that it was closed not because of the allegation of money laundering, but because of non-compliance with the prudential guidelines. Mr. Speaker, Sir, let me just mention that some of the guidelines were not followed by the bank, for example, lending to some companies in excess of the single borrowing limit of 25 per cent, of the core capital. That is one guideline which was breached. Another issue is inside lending without adequate security. The other issue is retention of bad and doubtful debts---"
}