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{
    "id": 700999,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/700999/?format=api",
    "text_counter": 134,
    "type": "speech",
    "speaker_name": "Hon. Ochieng",
    "speaker_title": "",
    "speaker": {
        "id": 2955,
        "legal_name": "David Ouma Ochieng'",
        "slug": "david-ouma-ochieng"
    },
    "content": "Thank you, Hon. Deputy Speaker. I would not want to so much talk about the names as I would want to talk about the kind of CBK that we want in this century. What kind of CBK does this country need going forward? Let us weigh the names we have been given against the requirements of the Constitution that the Board of Directors of the CBK will consist of independent people who will work without being controlled by anybody and people who will work without the direction of anybody. If they are people who understand the monetary policy, do they understand price stability and how the currency works? That is what the Constitution requires. They should have capacity to understand the role of the CBK. I do not want to blame any of them. I blame the Chairman of the Committee concerned. This is one of the areas where these names have not been got through any competitive process. The President sits and he is told to put so and so. It is different from what we did yesterday, where Justice Maraga was interviewed by the Judicial Service Commission (JSC). We saw him go through questions. Here is a situation where names are brought before us. The country relies on the Committee to not only vet persons, but to also interview them and determine whether they understand the role of the CBK. The Committee should also determine whether the nominees can undertake the roles. Hon. Deputy Speaker, I have looked through this Report and I have not seen any evidence that the nominees were put to questions that relate to the current state of the economy of our country. What did they think about financial deepening? What do they think about competition in the financial sector? What is their view about collusion among banks to fix interest rates and charges within the banking sector? I would have wanted to see evidence that the Committee understood the weight of the job it was given, which is bigger than what the Committee thought it was doing. If you look at this Report, you realise that even the CVs we have been given are so scattered. One person has a full CV and another one has half of a CV. The Committee is not telling us the relationship between those qualifications and the job at hand. I agree with Hon. Langat that these people are learned, but he is not telling us whether their being learned and the schools they went to are related to the work they are supposed to do. Sometimes we may want to blame those who have been nominated, but it is our job as Parliament to ensure that we understand what we are up to as a country. What sort of banks do we want in this century? Do The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}