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{
    "id": 632340,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/632340/?format=api",
    "text_counter": 47,
    "type": "speech",
    "speaker_name": "Hon. Njomo",
    "speaker_title": "",
    "speaker": {
        "id": 1784,
        "legal_name": "Jude L. Kangethe Njomo",
        "slug": "jude-l-kangethe-njomo"
    },
    "content": "The Kenya Bankers Association (KBA) has indicated that it has the capacity and the will to regulate the rates that its members are going to charge. I was talking to one of my friends who is a senior manager with one of the banks. I would like to quote his comment. He said:- “The Kenya Bankers Association does not have a statutory and institutional authority and ability to effectively control member banks.” That is the position. We cannot rely on KBA to regulate interest rates. In any case, what the KBA does is to mind the interest of banks without minding the interest of the economy of the country or the welfare of its customers. It minds the business of its members and those are the banks. It would be suicidal to rely on the KBA to control the interest rates."
}