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{
    "id": 644460,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/644460/?format=api",
    "text_counter": 28,
    "type": "speech",
    "speaker_name": "Hon. Midiwo",
    "speaker_title": "",
    "speaker": {
        "id": 184,
        "legal_name": "Washington Jakoyo Midiwo",
        "slug": "jakoyo-midiwo"
    },
    "content": "Hon. Deputy Speaker, I rise to second. I do not think a lot can be said about this Procedural Motion but only to echo the sentiments of the Mover; that, it could not have come at a better time. This House needs to ventilate and try to seek solutions to the issues affecting the banking sector. We know that Hon. Speaker yesterday allowed ventilations, urged and directed the Departmental Committee on Finance, Planning and Trade to do something. The larger issue is in terms of investigating the origin or basis of the financial mess we are faced with. The Procedural Motion is important in that it debates the original Bill with a view to further interrogate the whole set up of the Banking Act so that we deal with some loopholes. Those loopholes have left this mess to continue over the years. The Leader of the Majority Party yesterday alluded to a very big danger, which is the fact that the National Bank of Kenya (NBK) is holding the funds of the National Social Security Fund (NSSF). That danger is big. You and I know that there will be no financial market in this country if the NSSF goes down. Being the minority shareholder of the NBK, but the largest single shareholder of NBK, the NSSF cannot be left to get away with what seems to be a very concerted effort to bring down a bank. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}