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{
    "id": 628683,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/628683/?format=api",
    "text_counter": 217,
    "type": "speech",
    "speaker_name": "Sen. Ndiema",
    "speaker_title": "",
    "speaker": {
        "id": 1067,
        "legal_name": "Henry Tiole Ndiema",
        "slug": "henry-tiole-ndiema"
    },
    "content": "Mr. Temporary Speaker, Sir, for Imperial Bank, it was Kshs2,926,365,091; Family Bank, Kshs3,905,389,153; and Chase Bank, Kshs4,475,289,153. The total is Kshs27,093,433,144. Deposit placement is done as and when funds become available from the trading teas and interest rates offered by the banks determines which bank gets the deposit based on competitive. It was unfortunate that Imperial Bank was put under receivership when preparations to pay final payments to farmers were in top gear. The Kenya Tea Development Authority (KTDA) management services limited was able to release the farmers payment on 23rd October, 2015 and use money earmarked for other obligations to cover the deposit held at the Imperial Bank. Going forward, KTDA management services limited will spread further the deposits and although this may reduce the interest earnings, the risk may be reduced although it may not be entirely eliminated."
}