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{
    "id": 681753,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/681753/?format=api",
    "text_counter": 527,
    "type": "speech",
    "speaker_name": "Hon. Nakara",
    "speaker_title": "",
    "speaker": {
        "id": 2926,
        "legal_name": "John Lodepe Nakara",
        "slug": "john-lodepe-nakara"
    },
    "content": "should resign, so that you give people opportunity to go through your lifestyle and investigate the issue you have been accused of. It is an honour to resign to pave way for investigations. Money laundering is fertile land for corruption. You will get money from here and take it away through corrupt means and nobody follows you. We need to go back to the ages when people started putting their money outside this country and make this law function. We should ask those countries to bring that money whether the people are alive or not. That money belongs to this country. We must return it here to help build this country. This Bill has addressed the issue of empowering financial institutions despite the fact that we have given power to the CS concerned. This Bill has empowered these institutions to know how the banking industry operates. People deposit millions of shillings yet they do not do any business or investment. You wonder where this money comes from. It is the right time for us to make sure that our financial institutions monitor savings and deposits. All transactions in the banking sector must be monitored. Some nations have realised that Kenya is a path to send money for terrorism to their groups. A lot of money passes through this country. They know that our laws are not that strict or harsh to stop such businesses. So, we want to empower or financial institutions to deal with such acts of terrorism. On the issue of investment, we want to encourage our people. Now that this country has good banking systems and environment for investment, we need to invest money instead of leaving it lying somewhere, such that when you die, even your family members do not know that you had such amounts of money in a far country. People should understand that this country has a good environment for investment. We encourage them to bring the money they have put outside back to the country. It is good to give a period within which laws are implemented. Our policies are good on paper, but the implementation process is a problem. It is good for us to work with timelines, so that this money can be brought back within a specific period of time. If not, the Government should repossess it and put it in public coffers. With those few remarks, I support the Bill."
}