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{
    "id": 632438,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/632438/?format=api",
    "text_counter": 145,
    "type": "speech",
    "speaker_name": "Hon. Mbui",
    "speaker_title": "",
    "speaker": {
        "id": 1750,
        "legal_name": "Robert Mbui",
        "slug": "robert-mbui"
    },
    "content": "However, when I look at it and find that there is deceit in the way that business is being conducted, then it propels me to support my colleague. I had already told him that I will oppose this Bill but I have been compelled by the speakers that have spoken before that it is important to support it because it is for the good of our people. Kenya has a bad reputation out there. If you go to the East African Community (EAC), you will find that we are considered as the “man eat man society” because of excessive corruption. We have theft all over including stealing of examinations of primary school children. We should be careful with the image that we project to the rest of the world. If certain regulations have been imposed on banks in other countries, then we are just part of a global economy. If the United States of America (USA), Germany and countries in Europe are doing it, then we should borrow a leaf from those that have done it before us so that we do not stumble and fall. When we borrow, we notice that there is a lot of fine print in the borrowing documents and this is because there are many charges that are not being disclosed to the borrowers. As we pass this legislation, we should compel the banks to clearly indicate charges that people will be expected to pay. As a capitalist, I believe in affordable loans to grow our economy, fair and good trade practices and not excessive interest rates where banks are making super profits. I was shocked when my colleague said that out of the top 10 performing business, seven of them are banks. If it is fair trade practice, there are very many businesses and industries in this country. Why would the banks be the only ones making super profits and yet we know that many people have had their properties auctioned by the same banks? Time has come when we must rally together and support citizens of this country. I have some concerns. First, this has been done in the past. The Donde Bill was brought to this House and other Bills similar to this have come to this House. The banking industry is big business and they are going to attempt to fight back. When the Donde Bill came the first time, I understand that the courts started supporting the banks against the citizens. So, we are asking that the courts do not get involved in legislation. Let them allow us to do our work and keep off because we need to ensure that we do our work without interference from other quarters. The other thing we note is that former President Moi did not assent to the Donde Bill the first time. We also want to urge our President that when this Bill passes, he kindly assents to it because it is important for the growth of the economy. He promised double digit growth in these five years. The other issue is that the National Treasury lobbied when Hon. Midiwo brought his Bill which was similar to this one before the House. That means that money changed hands. It is important that we legislate with our minds and hearts and not with our stomachs. It is important because I know it is likely that the banks will come here and try to influence us. We have seen it happen in Machakos---"
}