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{
    "id": 327085,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/327085/?format=api",
    "text_counter": 823,
    "type": "speech",
    "speaker_name": "Mr. Langat",
    "speaker_title": "",
    "speaker": null,
    "content": "Mr. Temporary Deputy Chairman, Sir, I also want to reluctantly oppose my friend hon. Midiwo because he means very well but unfortunately the way the amendment is coming out is actually going to cause discrimination between Government owned banks and other banks. It says, for example, that the Kenya Commercial Bank will be forced to get a lower rate than other banks. Mr. Temporary Deputy Speaker, Sir, I wish hon. Midiwo would have brought it this way: If the money belongs to, for example, the Youth Fund, then the Government can tell the bank to lend it at a certain rate. You can actually legislate that. But if you say all the funds that the bank holds, you lend at a lower rate than other banks, it is very discriminatory. It is actually going to kill Government owned banks. Mr. Temporary Deputy Chairman, Sir, let us also go back to history. Before the private sector banks came, our banks were doing very badly. In fact, the National Bank of Kenya was at some point collapsing. The KCB was also almost going the same way. In fact, I remember a case in Kericho where the National Bank of Kenya closed their branch. I am sure people up to now are still claiming money from them. So, let us not discriminate. Let the market be free. Let the competition between the banks be there so that both Government and private sector customers can get fair terms. Mr. Temporary Deputy Chairman, Sir, the amendment on 16D is the greatest discrimination. You are saying that public entities should only open accounts in"
}