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{
    "id": 467051,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/467051/?format=api",
    "text_counter": 241,
    "type": "speech",
    "speaker_name": "Hon. Mwaura",
    "speaker_title": "",
    "speaker": {
        "id": 13129,
        "legal_name": "Isaac Maigua Mwaura",
        "slug": "isaac-mwaura"
    },
    "content": "This means that our people are really suffering. Because of that we want to make sure that all those “shylocks” are not affecting our members. We know very well that under Section 36(A) of this amendment Bill, the Central Bank of Kenya (CBK) has been given powers to institute corrective measures against any microfinance institution that will not go by the straight and the narrow. I would also like to say that this may be subject to abuse because we have seen--- This House has been informed that some of these corrective measures may be informed by political considerations. We are also aware that two years or so ago, the CBK through its discount window was able to allow individuals and corporate to withdraw up to Kshs600 billion under the pretext that they were trying to buy foreign currency because there was a shortage. That led to high rates of inflation and of course, our shilling had to really lose value. Therefore, the CBK must be beyond reproach like Caesar’s wife so that it can also be entrusted with the lives of Kenyans."
}