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"id": 850178,
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"type": "speech",
"speaker_name": "Kiminini, FORD-K",
"speaker_title": "Hon. (Dr.) Chris Wamalwa",
"speaker": {
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"legal_name": "Chrisantus Wamalwa Wakhungu",
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"content": " Thank you, Hon. Temporary Deputy Speaker. Indeed, this is a very important Bill that is long overdue. I listened carefully when it was being moved and seconded. Indeed, it is true that matatu SACCOs have nothing to do with this Bill. Those ones are being regulated by the Ministry of Industry, Trade and Cooperatives. This Bill is focusing on the SACCOs doing the front office activities, whereby they are focusing on the quasi-banking aspect. I am happy to note that the issue of the Banking Act has been brought in. When you look at the Micro-Finance Act where we have microfinance institutions which are also doing quasi-banking, you find that they are also being regulated through the Banking Act. In this case, the main player here is the Central Bank of Kenya (CBK). 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."
}