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{
    "id": 644579,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/644579/?format=api",
    "text_counter": 147,
    "type": "speech",
    "speaker_name": "Hon. Mlolwa",
    "speaker_title": "",
    "speaker": {
        "id": 2980,
        "legal_name": "Jones Mwagogo Mlolwa",
        "slug": "jones-mwagogo-mlolwa"
    },
    "content": "Thank you, Hon. Temporary Deputy Speaker. I support this Bill. The best thing was for banks to regulate themselves. The fact that they have not been able to do that means that we need to force them. In the banks, only about 14 per cent of customers default. This means that 86 per cent of customers are good. Most of those customers are corporate entities who borrow at around 9 per cent. Other customers and the citizens of this country are forced to borrow at very high interest rates. Having said that, the Government banks such as the National Bank, Kenya Commercial Bank and Co-operative Bank should cushion the citizens by lending money to customers at lower rates so that the citizens who are not able to pay at high rates such as mama mbogas, are given loans at cheaper rates. The collapse of banks that is happening today should be blamed on the supervision by the Central Bank of Kenya. They have not been able to supervise those banks properly, thus making it possible even for the managers to steal from the public."
}