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{
    "id": 466969,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/466969/?format=api",
    "text_counter": 159,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Hon. Speaker, Sir, finally, Clause 6 seeks to amend Section 37(4) of the Microfinance Act. Again this empowers the CBK to enter into an agreement with the Board of Directors of a deposit-taking microfinance requiring them to rectify any deficiency within three months. Again, this talks about how the CBK will deal with the deposit-taking microfinance Board of Directors to make sure that any deficiency both in terms of liquidity and other resources required by that microfinance are taken care of. These agreements will be binding to both institutions and their Board of Directors. None compliance to Section 37(4) will result in the CBK taking further action."
}