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{
    "id": 327021,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/327021/?format=api",
    "text_counter": 759,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
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    "content": "the Brazilian model. Under 16B, what we are saying is that the banks where the Government has interest - there are only three banks. We want to give Kenyans comfort. Our youth and women, if they go to a bank where the Government has interest they should only be charged up to four per centum above the CBK rate. This creates predictability. Today, as it were, we have thousands of Kenyans who took loans at 11 per cent and the banks are today charging them 32 per cent or 35 per cent. All we are saying is that if private banks want to charge 1 million per cent, we will never interfere with them because it is a free economy. However, where the Government has interest, it has the responsibility to protect the Kenyans whose interests it holds in trust in these banks."
}