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{
    "id": 472053,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/472053/?format=api",
    "text_counter": 28,
    "type": "speech",
    "speaker_name": "Sen. (Eng.) Muriuki",
    "speaker_title": "",
    "speaker": {
        "id": 2559,
        "legal_name": "Stephen Muriuki Ngare",
        "slug": "stephen-muriuki-ngare"
    },
    "content": "Mr. Speaker, Sir, I want to compliment the Chair of the Committee on Finance, Budget and Commerce for a very well-elaborated answer. However, I want the Chair to elaborate if 42 per cent of the high profits that the banks publish, the other 58 per cent constitute of Treasury Bills and other similar instruments--- We know that the banks are making most of their money by affording credit to the Government. Therefore, I have two questions; comparing with other countries, is it normal that the financial arrangements in the country are such that the Government must borrow and such that the banks make so much money by lending money to the Government instead of lending money to productive areas of the private sector? Secondly, whether the Government supports this as a matter of policy or whether we would like to get out of it so that Kenyans can benefit from borrowing money from the banks for business. What is the Government actually doing to come out of it? I think this is part of the problem why interest rates are so high because banks do not miss the normal borrowers, they have a ready borrower."
}