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{
    "id": 786426,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/786426/?format=api",
    "text_counter": 18,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Thank you, Hon. Speaker. I support this Petition. This House is under obligation to protect the people we represent. There are people whose businesses collapsed because of the collapse of these banks. We must have a law that protects Kenyans. Nakumatt has collapsed with over Kshs80 billion owed to suppliers. These are poor Kenyans who were supplying Nakumatt. Today, there are people whose houses are being sold and they cannot even take their children to school. On the issue of banks, the story out there which the Governor of the CBK keeps telling us is that in three months’ time… I am sure there are Members here whose money and that of the Government went under in Chase Bank. Every three months our people are told that their money would be paid at a percentage of 10 to 15 for six months, but nothing is moving so far. Hon. Speaker, the story out there is that when Imperial Bank was going under and was being closed by the CBK, it had a liquid cash of over Kshs25 billion. That bank should not have been closed. All these are being done because the Department of Supervision at the CBK is not working. If banks are supervised, then things like insider trading will not take place. I want the Chair of the Departmental Committee on Finance and National Planning to ask for the The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor."
}