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{
    "id": 632430,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/632430/?format=api",
    "text_counter": 137,
    "type": "speech",
    "speaker_name": "Hon. F. K. Wanyonyi",
    "speaker_title": "",
    "speaker": {
        "id": 2065,
        "legal_name": "Ferdinard Kevin Wanyonyi",
        "slug": "ferdinard-kevin-wanyonyi"
    },
    "content": "Thank you, Hon. Temporary Deputy Speaker for the opportunity. I would like to tell Hon. Jude that this Bill is the best thing he has done for this House. This is because we have had problems with banks. Banks are reaping where they have not sown. Recently, I overdrew my account by about Kshs500,000 and I have paid through my nose. I could not believe the interest that was charged. I paid over 35 per cent. I paid and closed the account. This is because it was just unreasonable and I could not even talk to the bank officials. The CBK must take responsibility. We are trying to stimulate the economy. As it is now, we do not have money for the Constituencies Development Fund (CDF) because the KRA cannot collect enough money because there is no business. Other Government agencies are not getting money because the KRA is not collecting enough money since the economy does not produce enough money for taxation. We should stimulate the economy so that Government projects, including the CDF are financed. The principal objective of this Bill is to regulate interest rates charged by banks. Since they cannot do self control and self regulation like what the oil industry has done in the past, we should urge the President that once this Bill gets to him for assent, he should sign it like yesterday so that we can have discipline in the banking sector so that citizens enjoy its fruits."
}