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"id": 844905,
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"type": "speech",
"speaker_name": "Kiambu, JP",
"speaker_title": "Hon. Jude Njomo",
"speaker": {
"id": 1784,
"legal_name": "Jude L. Kangethe Njomo",
"slug": "jude-l-kangethe-njomo"
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"content": " Thank you, Hon. Temporary Deputy Chairman. This particular amendment is informed by the desire to have strong and stable banks. The same law had been proposed in 2016, but there was an outcry by banks. They asked for execution to be delayed for two years which are lapsing now. In the meantime, two banks have failed. Imperial Bank collapsed. Chase Bank collapsed, although it is currently coming to life again. This amendment is asking the banks to improve on their core capital from Kshs2 billion to Kshs5 billion in a period of three years from 2019 to 2021. When we do this, we shall have strong banks and deposits of wananchi and customers safe in banks. We do not want wananchi to take their money to banks and then they collapse the following day. That is why we want to have strong banks."
}