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{
    "id": 959768,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/959768/?format=api",
    "text_counter": 172,
    "type": "speech",
    "speaker_name": "Saku, JP",
    "speaker_title": "Hon. Ali Rasso",
    "speaker": {
        "id": 13473,
        "legal_name": "Dido Ali Raso",
        "slug": "dido-ali-raso"
    },
    "content": "Fundamentally, what is before us is a Petition that has been filed by one Mr. Oduor. This House must look deeper into what was the strategy behind the filing of that petition. The strategy of the petitioner was to knock out interest rate capping that was unanimously passed by this House in 2016. If that position fails, it was to put aside the interest rate capping through very smart canvassing in the court. In this petition, what comes to light is that the CBK must be put in the spotlight in this case. Article 231(2) of the Constitution talks about the independence of the CBK. With regard to this petition, the Kenya Bankers Association (KBA) and the CBK appear to be in collusion; that the interest rate capping that this House passed several years ago should be done away with. What the petitioner has set out to prove is that this House has usurped the role of the CBK. Secondly, he talks about discrimination of the banking sector of the Republic of Kenya. In the judgment, the judges rightly said it is ambiguous and wanted clarity on the terms „credit facility‟ and „loan‟. Hon. Jude Njomo has come out clearly that instead of the word „credit facility‟ we should have the word „loan‟. This being a known entity that is suitable, comprehensive and clearly understood by Kenyans out there. This Bill also sets out to reaffirm the maximum interest 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."
}