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{
    "id": 699680,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/699680/?format=api",
    "text_counter": 105,
    "type": "speech",
    "speaker_name": "Hon. (Dr.) Nyikal",
    "speaker_title": "",
    "speaker": {
        "id": 434,
        "legal_name": "James Nyikal",
        "slug": "james-nyikal"
    },
    "content": "people. It is good that it is not only limited to the Muslim community. In the banking industry, this has been extremely useful. I have an experience. When we started the Women Enterprise Development Fund (WEDF) we had a problem with the issue of interest but it was solved. I know there is, at least, one bank that offers Takaful banking. It is the First Community Bank. I know that people, including non-Muslims, benefit from this. The second reason for supporting this Bill is the reduction of a claim from a period of 90 days to 30 days. Many people have suffered because when they make claims, they take too long. Sometimes people just forget about them. Many people have lost even when compensation has been made. Even if they go through their lawyers, they never get the benefit because it takes too long. Many of them do not have the energy and the stamina to follow it up. So, shortening the period from 90 days to 30 days is extremely useful. The Bill also broadens the mandate of the authority and therefore broadens regulation. This is very important. For example, in the health sector, insurance companies have many issues. We are thinking that even the NHIF should fall under the ambit of the Insurance Act because broadening it will support it. With those remarks, I support the amendment Bill."
}