11 Sep 2019 in National Assembly:
grow to the level of the Second World. If we let institutions exploit our people through loans, our people will end up being victims of auctioneers. Our people will be backward and yet, we will be saying that the economy is growing. That is why I say we have to support this Bill. It needs to be implemented immediately. This House has passed very important Bills which are not operationalised. It is true that some people in the Executive will feel that an interest rate capped at 4 per cent is not fair. But I am telling the Executive that ...
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26 Jun 2019 in National Assembly:
Thank you, Hon. Deputy Speaker. It is true our citizens are feeling threated by land grabbers. In this country, we are unable to respect ownership of land because of organised crime. Many of these people are working in Government offices while others are in the streets ready to harm our citizens. We need to respect the rule of natural justice. Every time, we have people crying that their land has been taken. So, it is high time this House established a tribunal or come up with good measures to save our country on land matters. Thank you.
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26 Jun 2019 in National Assembly:
Thank you, Hon. Temporary Deputy Speaker, for giving me the opportunity to articulate and join my colleagues in appreciating the work of Hon. Francis Waititu, who has come up with this legislative proposal.
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26 Jun 2019 in National Assembly:
Hon. Temporary Deputy Speaker, in contract law, the contract comes through invitation to treat. This invitation to treat comes with the offer where the two persona would agree on the terms in the contract. But from our school of thought, when this contract law came to our Judiciary in Kenya, we were not in a position to establish whether one person can easily be identifiable or known. So, at that time, we did not have phones. We were not in the digital world and so, it was not easy to track one who had been given financial assistance or any ...
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26 Jun 2019 in National Assembly:
It has now gone to an extent where financial institutions are misusing this opportunity. The witness has now been forced to do the duties of the principal who was given the money. In the phenomena of maximisation and the exploitation of the principal, that is the person who has been given the loan. But the financial institutions are using closely related principals who can pay for the loan. That is why we said that this legislative proposal has come at the right time. All the institutions which are giving money should exploit all avenues before they think of a witness ...
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26 Jun 2019 in National Assembly:
The vision of the writer of the law is this: we want to bring this legislative proposal at this time. Do we still need a witness? It is the vision of the law of the writer to give us in terms of the agreement to treat the duties of that witness. What is the witness supposed to do? The witness should not be subject to guarantee the failure of somebody who was given money. I understand The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard ...
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26 Jun 2019 in National Assembly:
that people look for loans in good faith. We do not want to make laws for criminals. We are making laws for a harmonised society. That is why we are saying Kenyans borrow in good faith.
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26 Jun 2019 in National Assembly:
What are the parameters this person is supposed to operate in as an individual, and not with guarantors? So, this one is solely left with the vision of the writer. He is the one who is supposed to show us because there is an invitation to treat. How did these two people come to operate within this law? I will support this legislative proposal because it is going to define and ensure that guarantors are not misused.
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26 Jun 2019 in National Assembly:
We are now a borrowing society. Kenyans are suffering because of M-Shwari and Fuliza . Everybody is borrowing but the problem is the economy. It is not that people cannot pay. The question is that our people are borrowing. Is this economy giving you an opportunity to borrow money and make profit?
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26 Jun 2019 in National Assembly:
We are living in a state where you get every phone has borrowed money and Members in this House can agree with me that many people operate with Fuliza. So, because the society has embraced economic borrowing, it is high time financial institutions understand this. They should see the capacity. It is high time that our young people were not exploited by being taken to the CRB. For the first time, before you give the loan, you should understand if that person has the capacity to borrow. Now, as long as you have a simcard, you can borrow through your ...
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