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{
    "id": 685260,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/685260/?format=api",
    "text_counter": 110,
    "type": "speech",
    "speaker_name": "Hon. Katoo",
    "speaker_title": "",
    "speaker": {
        "id": 199,
        "legal_name": "Judah Katoo Ole-Metito",
        "slug": "judah-ole-metito"
    },
    "content": "Thank you, Hon. Deputy Speaker. Clause 50 talks about the Kenya Deposits Insurance Act, where we are removing conflict of interest. Currently, all the Chief Executive Officers (CEOs) of banks are in the Board established by the Kenya Deposits Insurance Act. They are the same people who are supposed to oversee collapsed banks. So, we are removing that and saying that we will have the CEO of the Kenya Bankers Association as the representative of all banks. It is a welcome move. Finally, I will point out the issue of a weak global economy. It is good that we become very competitive. The National Treasury should devise ways of becoming very competitive. It should come up with contingency plans that can take shape in case we are affected by the weak global effects."
}