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{
    "id": 463305,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/463305/?format=api",
    "text_counter": 187,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Hon. Temporary Deputy Speaker, my Committee agreed that we should give microfinance institutions additional business items which initially were prohibited by the Microfinance Act of 2006. So, one of those businesses which were prohibited were to deal with foreign currency and opening current accounts. Therefore, after consultations my Committee agreed that we need to allow these microfinance institutions to be able to operate current accounts to be able to deal with foreign currency transactions. So, the effect of that now is they are no longer prohibited from transacting those business items. So, we are just giving them additional business. We are removing the prohibition from the Microfinance Act, 2006. That is the import of that amendment."
}