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{
    "id": 582359,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/582359/?format=api",
    "text_counter": 151,
    "type": "speech",
    "speaker_name": "Hon. Midiwo",
    "speaker_title": "",
    "speaker": {
        "id": 184,
        "legal_name": "Washington Jakoyo Midiwo",
        "slug": "jakoyo-midiwo"
    },
    "content": "Yes, I do. Hon. Speaker, with all due respect to my brother, Major Waluke, I understand but I think he is misunderstanding the procedure. Listening to the Chair of the Committee on Budget and Appropriations, I also tend to think they are misunderstanding procedure. However, that is not my intention and I want to assure him that the Bill in which he is seeking to deal with matters on bank interest rates is not even published. He should be informed that the law allows us, as Members of Parliament, to move these amendments to the Finance Bill. History will bear me witness in the HANSARD that I have been on this issue since the year 2005 or thereabout. I have tried to deal with this issue of interest rates. I have perused his intentions and I see that the issues he is trying to address are not the same ones I am trying to deal with. However, so that there is not so much hullabaloo about this issue, because it is contentious, if it is the view of the Committee on Budget and Appropriations that we need to engage on it, I am willing and ready. Hon. Speaker, something must happen about interest rates charged by banks on the people of Kenya; that to me cannot be superseded by just mere arguments. I just disagree and that is up to them, because it occasions no money expenditure on the part of the Government. The opposite is that it gives ordinary Kenyans money, which they are already being robbed of by the banks today. It is just common sense, but because I trust your judgment in sending the amendment to them, I will leave it. However, I have one request; I also had an issue about Clause 43 of the Bill, which I seek your guidance on; it deals with the issue of capital requirements of opening new banks. They have said that I have not engaged them and I should not be engaging them as long as I follow the provisions of the Standing Orders. I request you, Hon. Speaker, to allow us to go to the Committee Stage on that particular clause. Let us The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor."
}