Aden Bare Duale

All parliamentary appearances

Entries 15741 to 15750 of 17799.

• 19 Sep 2013 in National Assembly: have agents. They could include sub-contracted entities so that Kenyans can get more jobs. This will be done without seeking approval of the CBK. That, in my opinion is good. This way more Kenyans form the micro finance and economic entities that will empower our people and create more wealth and have more people introduced to the financial sector. Hon. Temporary Deputy Speaker, this is a very important Bill that comes annually. It is important for all of us. I am sure that today and Tuesday hon. Members will give their input and bring the relevant amendments. I beg to ... view
• 18 Sep 2013 in National Assembly: Thank you, hon. Speaker, Sir. I really pity and agree with hon. Muluvi. But at one time – and I am sure the HANSARD will bear me out - I had the answer here and the Chair said he wanted to read it himself. The Deputy Speaker who was by then in the Chair gave a directive and it is very unfortunate. I will raise it with the Chair. It is very unfortunate because that day, I had the answer and three months later, that issue has not been settled. I think I raised that issue the day you gave ... view
• 18 Sep 2013 in National Assembly: Hon. Speaker, Sir, you will remember that one and a half months ago, I stood on the Floor of this House and questioned the deal between Essar and the Kenya Government and even the issue in which Essar bought the refinery for US$3 million. I said that if you collapse those tanks and sell them as scrap, they are worth US$10 million. I had more information and you directed that I appear before the Committee on Energy, Communication and Information. I want to tell the House today that since the Kenya entered into an agreement with Essar, we have lost ... view
• 18 Sep 2013 in National Assembly: I am sure that is why the Government of Kenya does not want to extend the two year agreement for Essar. That is because of the nature of that deal. We want Parliament to investigate within a limited time. If we do not do that, Essar is camping at Government offices waiting for an extension. I want to prove to the country that for the last 33 months that Essar was in this deal, the peole of Kenya have lost Kshs15 billion. We have the comparison of the price of fuel when we go through the refinery and Essar and ... view
• 18 Sep 2013 in National Assembly: Thank you, hon. Speaker, Sir. Just like the Microfinance Amendment Bill, this is again another amendment Bill to the existing Kenya Deposit Insurance Act. Just like yesterday, I will try to highlight the key areas in which amendments have been made as far as the Kenya Deposit Insurance Act is concerned. This is a very important amendment, particularly to the financial sector. We have the Finance Bill and a number of them are coming, like the Capital Markets Authority Bill. This is one time when we must exercise our legislative role so that my colleagues who are not here, tomorrow ... view
• 18 Sep 2013 in National Assembly: Clause 7 seeks to insert a new subsection 20(a) of the amendment Bill again in the principal act to empower the board to fix the size of the fund. Mainly, it talks about the number, the size and the extent of the fund. Within the international standards which promote confidence in the member institutions, the insurance will protect the interest of the depositors. Mainly it gives us the number and a safeguard in terms of the protection of the depositors. view
• 18 Sep 2013 in National Assembly: Hon. Speaker, Sir, Clause 8 seeks to amend Section 21 of the principal Act. This empowers the corporation to borrow from the Central Bank of Kenya (CBK) or any other source as the board may deem fit. But the amount borrowed shall not exceed 25 per cent. So, this gives power to the board to borrow and get more liquidity from the market, and more so within the provisions of the CBK. Again, it has given a ceiling of not more than 25 per cent. view
• 18 Sep 2013 in National Assembly: Clause 9 seeks to amend Section 22 of the principal Act. This is, again, to empower the board to expand the scope of investment options and within the organization. If there are investment portfolios, the board is given powers under which circumstances it can invest resources. This is meant to increase the earnings, create and empower the growth of the Fund. view
• 18 Sep 2013 in National Assembly: Hon. Speaker, Sir, Clause 10 seeks to amend Section 27 of the principal Act to empower the corporation to use the risk base assessment of the contributions from the member institutions. So, it is introducing a formula for calculating the contribution by institutions that are in operation for not less than 12 months - three years to the date of the notice - that have served under Section 2 of the principal Act. view
• 18 Sep 2013 in National Assembly: Finally, Clause 11 seeks to amend Section 33 of the existing Act. It specifies when the depositors should take payment and the period they should be paid within the 30 days as per the principal Act. view