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{
    "id": 644588,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/644588/?format=api",
    "text_counter": 156,
    "type": "speech",
    "speaker_name": "Hon. Midiwo",
    "speaker_title": "",
    "speaker": {
        "id": 184,
        "legal_name": "Washington Jakoyo Midiwo",
        "slug": "jakoyo-midiwo"
    },
    "content": "We will bring a raft of amendments. We delayed this Bill for almost three weeks or a month to give the banks a chance to meet the Departmental Committee on Finance, Planning and Trade and the Mover of the Bill. All we have seen is that they are talking about how bad this Bill is. It is good to tell the nation that there is a difference between control of interest rates and regulation of interest rates. What we are doing here is regulation and we must. I agree with Hon. Mlolwe who has said that self-regulation for the banks is the best, but they have failed. They are now a cartel. It is only in this country where foreign banks which report massive losses at home countries report comfortable and huge profits. So, this House has a duty. I plead with my colleagues because this is a window to do a raft of amendments on the Banking Act, let us seal every loophole that is interfering with the banking sector. We have an opportunity to re-look the whole scenario of banking activities, particularly of the State."
}