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{
    "id": 71980,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/71980/?format=api",
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    "content": "was the fear to have a run on the bank because of the adverse publicity, which had been generated by a statement that was issued by hon. Billow Kerow in this House. There is no indication from either Central Bank of Kenya (CBK) or the former Minister for Finance that the bank was closed because of violations of the Banking Act or drug trafficking or tax evasion. Those were not the reasons. These were side issues which emerged after the bank had been put under statutory management. I would like to add that it would be very unfortunate for any other bank in Kenya to be dealt with in the manner in which Charterhouse Bank has been dealt with. Mr. Deputy Speaker, Sir, there have been numerous allegations against Charterhouse Bank. I do not think any Member of Parliament here suggests that drug trafficking, tax evasion and violation of the Banking Act should be encouraged. What we are saying is that if those allegations are indeed strong enough to be prosecuted in a court of law, the Government should go ahead and do so. If drug trafficking has taken place and customers of the bank have been involved, let them be dealt with in accordance with the law. There is no law which says that if a customer of a bank is involved in a criminal activity, you close that bank. As I said in my earlier comments, if that were to be the case, every bank then should be closed because you will see that a lot of those violations – and we found a whole list of them – have been committed by other banks, and they have been punished by monetary penalties. What we are saying is that the relevant Government agencies should apply the same punishment to Charterhouse Bank. Mr. Deputy Speaker, Sir, mine is, therefore, to plead to hon. Members that we all support the rule of law. Let us act according to the rule of law. Even if there is external pressure, we should not bend to external pressure to break our own laws, which we make in this House. With those remarks, I beg to move."
}