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{
    "id": 97617,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/97617/?format=api",
    "text_counter": 9,
    "type": "speech",
    "speaker_name": "Mr. C. Kilonzo",
    "speaker_title": "",
    "speaker": {
        "id": 46,
        "legal_name": "Charles Mutavi Kilonzo",
        "slug": "charles-kilonzo"
    },
    "content": "Mr. Speaker, Sir, I rise pursuant to Standing Order No.205 with regard to a petition to the National Assembly of Kenya. The petition calls on Parliament to take all appropriate action to require the bringing to an end of the continued suffering brought upon the depositors of the Charter House Bank without any reasonable justification from 23rd June, 2006 to date. Mr. Speaker, Sir, as required by the Standing Orders, I have the requisite signatories. I have 35 of them although the Standing Orders require 20 signatories. The reasons underlying the request for intervention are as follows:- On 21st June, 2006, certain documents were tabled before the House alleging that Charter House Bank was involved in money laundering, VAT evasion and operating fictitious accounts. Those allegations were picked by media houses and on 22nd June, 2006 they generated serious negative media publicity against Charter House Bank Limited. On 23rd June, 2006, a statutory manager was appointed under Section 34(2)(a) of the Banking Act who took over and closed the bank at about 1.00 p.m. on the same date. The bank has remained closed to date. Mr. Speaker, Sir, in his Ministerial Statement on the status of Charter House Bank investigations, the then hon. Minister for Finance was on record as having said: “Documents allegedly from Central Bank of Kenya (CBK) were laid on the Table of the House, thereby, causing unnecessary panic in the banking sector. In order to protect the interest of depositors, the bank and the entire financial system regrettably had to approve the appointment of a statutory manager for Charter House Bank on 22nd June, 2006.” He went on to say: “It is with a heavy heart that I gave approval to appoint a statutory manager for a bank that does not have any liquidity problems.” According to the Minister, the statutory manager was to remain in the bank until he brings back confidence and safeguard the interest of depositors who have now asked me to bring this petition. Mr. Speaker, Sir, from 23rd June, 2006 to date, we the aggrieved depositors, relatives, families, businesses and customers have seriously suffered and continue to suffer. Our businesses have collapsed or closed. Some of us have children chased from school because we cannot access our money or retrieve our title deeds because the statutory manager closed down the bank, contrary to Section 34(2)(a) of the Banking Act which requires:- “In any case in which this Section applies, the CBK may appoint any person to assume the management, control and conduct of affairs and business of an institution to the exclusion of the Board of Directors including the use of the corporate seal.” Mr. Speaker, Sir, this did not happen."
}