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{
    "id": 723074,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/723074/?format=api",
    "text_counter": 176,
    "type": "speech",
    "speaker_name": "Hon. Kipyegon",
    "speaker_title": "",
    "speaker": {
        "id": 1453,
        "legal_name": "Johana Ngeno Kipyegon",
        "slug": "johana-ngeno-kipyegon"
    },
    "content": "Competence, integrity and reliability are also important. These are issues which we normally use on our day to day activities especially when we are vetting directors, chairpersons, Cabinet Secretaries (CSs) and everybody who wish to occupy public office, so that we can know for sure that the person who will be running the particular institution has the mandatory qualifications and the integrity that is required for the office. Clause 4 is another regulation which is very important where the Authority is to impose standards on directors especially where the directors have been picked and trained. We will also allow them to know the activities of the particular SACCO. Clause 5 talks of exchange of information especially on performing and non-performing loans. Most of the banks which collapsed sometime back collapsed because of serious over- borrowing or defaulting of loans. SACCOs are institutions like banks and people deposit their earnings with them. People join SACCOs and make contributions through their salaries. We must create a law to protect the contributions of the members. We can only do this through information sharing between the SACCOs and the people who have borrowed loans from them. Lastly is the question of Credit Reference Bureau (CRB). The SACCOs will be allowed to be sharing information with the CRB, so that defaulters in other banks are not allowed to borrow from SACCOs. If bank defaulters are allowed to borrow in SACCOs, this will kill the morale of the depositors. I support this law because it will regulate SACCOs in this country. Many people want to join SACCOs because some SACCOs have done extremely well in this country. Without regulations, SACCOs cannot do well. I support and I thank you."
}