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{
    "id": 316665,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/316665/?format=api",
    "text_counter": 396,
    "type": "speech",
    "speaker_name": "Mr. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "On a point of order, Mr. Temporary Deputy Speaker, Sir. You need to give direction on this. Hon. Khalwale has said that this is unconstitutional. Recommendation No.5 (a) is one that I had an issue with and I want to put it in my contribution. Article 231(3) of the Constitution, which the Minister for Finance is supposed to bring a legislation on – I hope it will come back in the Central Bank of Kenya (CBK) (Amendment) Bill which is before this House – gives the CBK independence in its operations. Two, I want you to give guidance. The 40 per cent joint venture is between the Ministry of Finance and De la Rue. The CBK as a third entity has no business there. Finally, this Committee, under recommendation No. 5(a) is recommending that the CBK should procure their banking notes competitively from the market, so as to compete with other players in the industry. So, those three contradict the amendment in the sense that the amendment wants to ensure that the CBK is tied to De la Rue, or whichever company. However, the Government has a joint venture for ten years. That is not there in the law. Later, even the Committee agreed to the joint venture. Why crucify Amos Kimunya? These are issues that must come out clearly and soberly. Yes, very soberly! People must read this report. So, you must give direction. The amendment by hon. Mbadi, which has been seconded by Charles Kilonzo, contravenes the Constitution that provides the CBK with the independence that it needs. Mr. Temporary Deputy Speaker, Sir, two, under the CBK Act, this Committee has confirmed that the CBK must play in the competitive liberal market in doing its business. Thirdly, the 40 per cent joint venture is not between the CBK and De la Rue. It is between the Government, as fronted by the Ministry of Finance, and De la Rue. So, the CBK is not a signatory to the joint venture. Those three issues need your direction before we either support or oppose the amendment. This is a constitutional issue that you need to spell out."
}