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"id": 332320,
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"type": "speech",
"speaker_name": "Mr. Githae",
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"speaker": {
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"legal_name": "Robinson Njeru Githae",
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"content": "Mr. Speaker, Sir, I think it would be important for the benefit of this House that I read this Section 32(c). It states as follows:- “All information obtained in the course of the inspection shall be treated as confidential and be used solely for the purposes of this Act, which is the Banking Act and the Central Bank of Kenya Act.” Mr. Speaker, Sir, I know that Parliament is not included here. What I am saying is that, I have already confirmed that certain banks have violated Sections 10, 12 and 50 of the Banking Act. That violation may not be confirmed but by revealing that information, the Central Bank of Kenya feels very strongly that it will have adverse implications on the viability and good repute of those banks if they are mentioned. What normally happens is that, when the CBK comes across a bank that has committed these violations, they normally fine them. They have even been given powers to fine. They fine the bank, the bank pays and the matter is left there. The bank promises not to repeat those violations again. This is to protect the banks because you do not know how this condition may be treated. I stand to be guided."
}