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{
    "id": 845802,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/845802/?format=api",
    "text_counter": 605,
    "type": "speech",
    "speaker_name": "Kikuyu, JP",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": {
        "id": 1835,
        "legal_name": "Anthony Kimani Ichung'Wah",
        "slug": "anthony-kimani-ichungwah"
    },
    "content": " Thank you, Hon. Temporary Deputy Chairman. I rise to support the amendment by the Committee through the Chairman. It is instructive because I spoke to this yesterday. Two of the points I did not mention yesterday are that banks, within the two years we have capped interest rates, have still been making colossal profits like they were making before the capping. Two, it is important and instructive to note something. I appreciate what Hon. Atandi, who has been a banker, is saying, and he worked with my wife. However, we must also be faithful to the people we represent in this House besides being faithful to the truth, facts and data. Figures never lie. The data that we have been fed with has come from the banking industry. With the spread of four per cent in two years, banks have still made profits. We are now opening that spread by removing the lower cap to allow banks not just to have a wider spread in terms of the margin that we have, but also to allow the Central Bank of Kenya to have greater flexibility on its monetary policy. Then 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."
}