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{
    "id": 723004,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/723004/?format=api",
    "text_counter": 106,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "the closure of that bank. The Imperial Bank--- I think this House is under obligation to go further and amend the necessary legislation so that, like in the developed world, we can protect the savings of each and every depositor. That is the role of this House. The regulator is under obligation to impose minimum standards, both on the directors and senior management of any SACCO as prescribed in the Bill. The standards include mandatory continuous or minimum professional development course given to the senior managers, training, certification that each director or an officer must undertake before he is eligible to serve as a member of that deposit-taking SACCO. This Bill also proposes to amend the SACCO Societies Act in order to harmonize and align the sharing of credit information emanating from the deposit-taking SACCOs with other credit providers, particularly the banks. Today, we have the Financial Reporting Centre. The Central Bank of Kenya, through regulations, said if you want to withdraw Kshs1 million, you must fill a form. If you want to deposit over Kshs1 million, you must fill a form. I want to share the following with the House. We have a very unique Governor of CBK. As of now, he does not have an account. It is very sad. Because of the faith he belongs to, his salary and everything just goes to that. I have confirmed and I am told he does not have an account. He has never had an account with any bank. The irony is: How do you become the Governor of CBK of a country like Kenya and you do not have an account? So, even when we ask where he gets his powers to limit the amount to withdraw and the amount to deposit, he cannot understand because he does not have an account or a cheque book. He is very unique. We have no problem. But I am told his salary is already mortgaged. His salary goes somewhere else since he got employed."
}