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{
    "id": 689267,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/689267/?format=api",
    "text_counter": 380,
    "type": "speech",
    "speaker_name": "Hon. Langat",
    "speaker_title": "",
    "speaker": {
        "id": 384,
        "legal_name": "Benjamin Kipkirui Langat",
        "slug": "benjamin-langat"
    },
    "content": "Hon. Temporary Deputy Chairlady, I beg to move:- THAT, Clause 48 of the Bill be deleted. This clause seeks to increase the capital base for banks progressively from Kshs2 billion in 2017, Kshs3.5 billion in 2018 and Kshs5 billion in 2019. After consultations, the Members of my Committee said that we need to encourage more people to set up banks and more Kenyans to invest in banks. We should not make it an exclusive club for a few people who have billions of shillings. If Hon. Jakoyo has Kshs200 million, he can set up a small bank in Kisumu which may grow progressively to be like Kenya Commercial Bank (KCB) or Equity Bank. If you look at the history of all these banks, for example, Equity Bank, you will find that it was a very small building society but it is now a major bank in this country. The Members of the Committee agreed that we should encourage people to invest. We are also encouraging competition."
}