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{
    "id": 647309,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/647309/?format=api",
    "text_counter": 221,
    "type": "speech",
    "speaker_name": "Sen. Billow",
    "speaker_title": "",
    "speaker": {
        "id": 260,
        "legal_name": "Billow Adan Kerrow",
        "slug": "billow-kerrow"
    },
    "content": "Mr. Temporary Speaker, Sir, I said that NSSF is an investor. That means a shareholder in the English language. There are many private banks that reported losses. The NBK is not the only bank. The NBK has been reporting losses for many years from the time of the former managing director. Therefore, reporting losses does not mean the bank’s deposits are affected. People should not confuse those two things. Secondly, Sen. Wetangula asked a question on the status of the accounts of the NBK. The accounts of any company quoted on the Nairobi Stock Exchange are public documents and are available on the website of the NSE or that of the NBK. It is not privileged information. It is public information and he can access it anywhere. Mr. Temporary Speaker, Sir, Sen. Wetangula also asked about the lending. Lending in any bank is guided by prudential guidelines which are international standards adopted by all the banks in the world as well as the guidelines provided for in the Banking Act. It would be wrong to say that the lending at the NBK is characterized by irregularities that he has mentioned unless he tables evidence. Therefore, I will respond to that question when he tables his evidence. They remain mere allegations until and unless he tables evidence. On the last point, I agree with Sen. Kagwe that we need to be very cautious on the statements we make. When we say that a bank is being run like a kiosk, we will create panic amongst the depositors. I would also like to advise the Senator for Kakamega that the confidentiality rules that bar anyone from getting information relating to the accounts of the account holders in that bank are the same ones that have been used by the Central Bank of Kenya (CBK) in denying his party leaders access to information relating to Eurobond."
}