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{
    "id": 736793,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/736793/?format=api",
    "text_counter": 128,
    "type": "speech",
    "speaker_name": "Hon. (Ms.) F.I. Ali",
    "speaker_title": "",
    "speaker": {
        "id": 13152,
        "legal_name": "Fatuma Ibrahim Ali",
        "slug": "fatuma-ibrahim-ali"
    },
    "content": "Thank you, Hon. Temporary Deputy Speaker, for allowing me this opportunity. I support the Bill on the Nairobi International Financial Centre. It is a timely Bill which will help regulate our financial system at both the national and international levels, including the regional level. It is good to have standardised accepted standards, guidelines and a law that will help a country which is located in a very strategic position in Africa to have regulations that will allow actors in the financial sector, and other actors. Kenya is among the top countries in African economies. Kenya is the fifth country in the African economy with a robust economic growth. It will attract many international and regional investors. Without an international financial centre to regulate transactions and taxation, and check money laundering, it might be harmful to our country. A regulated international financial centre will boost our economy. This law is aimed at boosting Kenya’s economic growth. It will secure this country’s robust economic growth and ensure that we have efficient financial services for Kenyans and investors. Kenya will attract high level delegations of investors to come and invest in the country. The International Financial Centre will create a standardised approach to regulate most of these things. Kenya is seen as a country which has a high potential, with a high growth and a good understanding of how the international markets work. Kenya is in a strategic location and thus it attracts investors from many countries. Africa is becoming one of the leading business hubs in the developing world. Kenya requires this kind of law in terms of regulating and providing safety for firms to operate in the country. This Bill also provides for some complaints and management handling mechanism. Firms which have been barred from operating can channel their grievances to the tribunal and seek for redress. That is one of the right approaches to development in terms of providing a structured dispute settlement mechanism. Any institution that wants to be effective and efficient in handling its affairs needs such a mechanism. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}