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{
    "id": 967854,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/967854/?format=api",
    "text_counter": 474,
    "type": "speech",
    "speaker_name": "Kinangop, JP",
    "speaker_title": "Hon. Zachary Thuku",
    "speaker": {
        "id": 13380,
        "legal_name": "Zachary Kwenya Thuku",
        "slug": "zachary-kwenya-thuku"
    },
    "content": " Thank you, Hon. Temporary Deputy Speaker for the opportunity to speak on this matter that has been brought to us by the Committee on Delegated Legislation. From the outset, I congratulate the Committee because of late, they seem to be on overdrive in terms of making sure that regulations that have been passed are in tandem with the changing world and are constitutional. This is one of the committees that need a pat on the back through the able chairmanship of the “iron lady”, Hon. Boss Shollei, and the newest in the House, Hon. “Sir” George. Looking at the Regulations that were drafted by the CBK, passed by this House and the subsequent annulment of Regulations 26 and 42, they beg a lot of questions. The CBK seems to be acting arbitrarily. We have been subjected to a lot of suffering especially when we go to banks to withdraw money. We cannot withdraw money as and when we want it because there are some regulations that they are trying to draft, albeit, that have not been passed by this House through the Committee on Delegated Legislation. They have not been passed yet once I walk into a bank, I cannot withdraw any amount above Kshs1 million. It now begs the question: Whose business is it to do due diligence? I cannot engage in business, bank my money in my favourite bank and withdraw it at will. The buck stops with the bank to do due diligence to find out if that money is proceeds of crime. If it is, they are supposed to call the relevant agencies and have me taken to court to answer charges on the same. They should not subject us to the kind of shenanigans they have put us in. We cannot withdraw money at will. They seem to be very comfortable with that mere circular that has been sent to all the banks. The banks are so afraid to contravene the so-called circulars. I do not see any problem with anybody walking into a bank to withdraw his money because the banks are custodians. On coming to this annulment that has been proposed by the Committee, the issue of the CBK trying to regulate as to where microfinance lending institutions or mortgage refinance companies should open their businesses is illegal from the outset. That is a contravention of the right of where and when to do business. The CBK is overstepping its mandate in trying to regulate as to where you can open a business. I thank the Committee for having an eye on the people of Kenya. We have been subjected to a lot of suffering that is not anchored in any law. It contravenes our rights as Kenyans. This Committee has reigned over all the organisations that have been mandated or have this delegated opportunity to legislate. With those few remarks, I congratulate the Committee. I pray that other committees take their cues from the Committee on Delegated Legislation. This House seems to be taking instructions from some quarter without caring whether whatever instructions they are coming up with are within the law, which is not acceptable. I support the work of the Committee."
}