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{
    "id": 318098,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/318098/?format=api",
    "text_counter": 250,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "As you are aware, Parliament, on 9th September, 2010, considered and adopted the Report of the Parliamentary Departmental Committee on Finance, Planning and Trade on the petition on Charterhouse Bank Limited. The Committee made the following recommendations:- (a) Both the Central Bank and the Charterhouse Bank, having executed the restructuring agreement on 28th August, 2009 should, with immediate effect, take all necessary steps to implement the said agreement to its conclusion. (b) The Central Bank should appoint a qualified person, under Section 33 of the Banking Act, to assist in carrying out the directions required to ensure full implementation of the executed restructuring agreement with Charterhouse Bank. (c) The Central Bank should support the restructuring agreement with a view of ensuring that the interests of the depositors, the institution and other creditors are achieved, and re-open the bank with a new structured mandate. (d) The Minister for Finance should support the Central Bank of Kenya and Charterhouse Bank in restructuring the process, including the granting of waivers, where necessary, to ensure that the purpose and intention of the restructuring agreement are fulfilled to protect the interests of the depositors, creditors, institution and the entire banking industry."
}