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{
    "id": 494616,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/494616/?format=api",
    "text_counter": 64,
    "type": "speech",
    "speaker_name": "Sen. Wetangula",
    "speaker_title": "The Senate Minority Leader",
    "speaker": {
        "id": 210,
        "legal_name": "Moses Masika Wetangula",
        "slug": "moses-wetangula"
    },
    "content": " Mr. Speaker, Sir, I am a Member of the Committee but sometimes because of other duties, I miss meetings. I want to urge the Chairman in furtherance of the distinguished Senator for Murang’a’s request, we have a law in this country which says that banks cannot charge interest rates to loans payable to exceed the amount that was borrowed, that is, the in duplum rule. We passed that law under the watch of hon. David Mwiraria. I want the Chairman to pursue that point to augment the good issue that the distinguished Senator for Murang’a has brought up so that the public is advised that if one borrows Kshs10,000 even if one defaults he or she cannot pay more than Kshs20,000 on that loan. That is what the rule says, but people are paying up to 20 times and end up being auctioned and humiliated."
}