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{
    "id": 734984,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/734984/?format=api",
    "text_counter": 194,
    "type": "speech",
    "speaker_name": "Hon. Gaichuhie",
    "speaker_title": "",
    "speaker": {
        "id": 17,
        "legal_name": "Nelson Ributhi Gaichuhie",
        "slug": "nelson-gaichuhie"
    },
    "content": "The other justification is that the amendment of the schedule is the minimum capital requirement by extending the target compliance date from 20th June 2018 to 30th June 2020. You realize that since they have increased the minimum capital requirement, if you tell them to increase the capital requirement by 2018, it is too short a period. So, we have decided to increase that to year 2020 so that the insurance companies can build their capital base. We need to give them time just like what we did with the banks. If you increase the minimum capital requirement, you need to give the companies time to build up their capital."
}