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{
    "id": 71920,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/71920/?format=api",
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    "content": "praying for Parliament to pass a resolution to urge the Central Bank of Kenya to re-open the Charterhouse Bank. Mr. Temporary Deputy Speaker, Sir, the Committee sat and undertook to invite relevant witnesses to appear before it and we had 23 meetings during which we interviewed and sought evidence from a variety of players. The CBK Governor, the Statutory Manager, the Director of Inspections, the PricewaterhouseCoopers partners, the Attorney-General, the Kenya Anti-Corruption Commission Director-General and his deputy, the Commissioner-General of KRA and many other witnesses. We got evidence from each and every one of them. Basically, what we were looking for is to address specific allegations that had been made against the Charterhouse Bank. One of the accusations was violation of the Banking Act and Prudential Regulations. The other was the allegation of tax evasion. Another was allegations of money laundering and siphoning of money to off shore accounts. The other was drug trafficking and terrorism. Mr. Temporary Deputy Speaker, Sir, I will not go into the details of the evidence because it is all contained in the report which hon. Members have. The sum total of it for the violations of the Banking Act, the evidence given points to the source of these allegations, as regular banking inspections undertaken by the CBK at various intervals. Specifically, I want to refer to four inspections which followed one another. One was done some time in August, 2004. Another one was done in October. Another one followed in April. All of them pointed out that there were some violations which were pointed out to the bank and the bank was given the opportunity to redress them. After each and every inspection, you will find that the CBK actually granted the banking licence to Charterhouse Bank. The same CBK could not therefore, come back and say that Charterhouse Bank violated the Banking Act and the Prudential Regulations and at the same time, they granted them the banking licence. So, by implication, we believe that Banking Licences were given with the recognition that they had fulfilled the conditions of the issuance of the licence. Sometime in 2004, the Kenya Anti-Corruption Commission (KACC), Central Bank of Kenya (CBK), Kenya Revenue Authority (KRA) and the Ethics and Governance Permanent Secretary put together an inter-agency taskforce which was to look at suspected suspicious activities that were going on at the Charterhouse Bank."
}