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{
    "id": 712836,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/712836/?format=api",
    "text_counter": 281,
    "type": "speech",
    "speaker_name": "Sen. Billow",
    "speaker_title": "",
    "speaker": {
        "id": 260,
        "legal_name": "Billow Adan Kerrow",
        "slug": "billow-kerrow"
    },
    "content": "Mr. Temporary Speaker, Sir, if you want the one that has been signed by the Kenya Deposit Insurance Fund (KDIF), I can table it later. It is not with me now, but we have the actual printout. I thought he wanted the details of the banks which I do not want to table because he wants to see the KDIF letter. This is the official answer because this is what we went through with our Committee and agreed to discuss today. There are two issues I want to quickly clarify. We have already written to the national Treasury, the Controller of Budget and the Commission of Revenue Allocation for a meeting in early February to come up with proposals to seek amendments to the Public Finance Management Act to limit these powers of the counties. This is because neither the Central Bank nor the Controller of Budget has powers to limit a county government from opening accounts in the commercial banks and transferring money from their accounts in Central Bank to those accounts. This is what they are exploiting. It is one of the loopholes that we, as a Senate, have to seal. The Chase Bank has a limited window for withdrawal of money since it has been opened. It is because of that limitation that these counties have still got substantial amounts of money and are not able to withdraw all the money they want. So that limitation is still in force."
}