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{
    "id": 472077,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/472077/?format=api",
    "text_counter": 52,
    "type": "speech",
    "speaker_name": "Sen. Kajwang",
    "speaker_title": "",
    "speaker": {
        "id": 164,
        "legal_name": "Gerald Otieno Kajwang",
        "slug": "otieno-kajwang"
    },
    "content": "Thank you, Mr. Speaker, Sir. I did not hear the Chairperson talk about the profits that our banks seem to compete in making. In fact, they are no longer even obscene profits; they are windfalls. I want to know why a bank should compete to make the kind of profit of over Kshs5 billion. The only way in which they have raised this money is actually through increased interest rates, increased penalties and no serious trade. This is not very healthy for the economy; that money is being sucked from the investors and even from the small people by the banks in large quantities every year and they seem to be very cheerful about it. The cash ratio which the Chairperson has referred to is still extremely high. I do not see why we should keep a whole 10 per cent of the lendable money in the CBK and leave little money which then becomes very costly to the economy. You keep some money there, it is doing nothing, it is earning you nothing but at the same time, it makes the money very expensive for the people who should be doing business and making the economy better. I wish you went back there to explain some of those very serious issues. The electronic version of the Senate Hansard Report is for information purposes only. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}