George Washinton Mallan Omondi

All parliamentary appearances

Entries 211 to 220 of 225.

• 18 Sep 2013 in National Assembly: today, is so intertwined that any failure of a big financial institution can bring down the whole economy. view
• 18 Sep 2013 in National Assembly: Hon. Speaker, this particular amendment seeks actually to strengthen the two pillars of banking that is, confidence and trust. That is one reason why I would go ahead to support this amendment. It is also true that the current outfit that looks after the depositors’ money in the banks, which is the Deposit Protection Fund (DPF) is actually a branch of the Central Bank of Kenya (CBK) and as such is very much constrained in the way they make their decisions. This particular amendment seeks to bring independence and the new outfit would definitely be independent which is good for ... view
• 18 Sep 2013 in National Assembly: Hon. Speaker, it is also true that the only mandate of the current outfit of the DPF is to liquidate failed institutions but the new outfit endeavours to take action before these banks actually fail and as we have been informed, moving to transfer depositors’ money to some stronger financial institutions or moving with finances and funds to make sure that the depositors do not lose their money when the banks fail. view
• 18 Sep 2013 in National Assembly: Hon. Speaker, it is also true that the governance of the present DPF is limited because it draws its board from the Central Bank of Kenya (CBK), the Treasury and the banking industry. The new outfit as we have seen in the amendment seeks to widen this governance and bring in even the membership from the Attorney-General. To this extent, the amendment goes further to make sure that the supervision of the DPF is strong. view
• 18 Sep 2013 in National Assembly: Hon. Speaker, I wish to say that the reason why banks are supervised is actually to enhance the stability of the financial system which is very important for the viability of the whole economic system and this is what the new outfit - the Deposit Insurance Corporation (DIC) is going to achieve. view
• 18 Sep 2013 in National Assembly: With those few remarks, I wish to support. view
• 24 Jul 2013 in National Assembly: Thank you, hon. Temporary Deputy Speaker. It is obvious that the capital market is the driving force of any successful economy in any part of the world because the commercial banks, as they are constituted, find it very difficult to raise money to lend to the economy. It is also true that in our drive to industrialize by the year 2030, it is important that we strengthen our markets and sources of finance. It is also true that there are lots of risks in operating capital markets. As we all know, the meltdown of the American economy started from the ... view
• 25 Jun 2013 in National Assembly: Hon. Speaker, Sir, I stand in for my Chairman, who has lost his voice. He spoke too much during the Committee meetings. view
• 25 Jun 2013 in National Assembly: Hon. Speaker, Sir, I beg to move that the Supplementary Appropriation Bill, Bill No.2 of 2013, be now read a Second Time. view
• 25 Jun 2013 in National Assembly: The Budget and Appropriations Committee is charged with the responsibility of reviewing and making recommendations to the House on any money Bill in accordance with the Standing Order No.231. After the approval of the second Supplementary Estimates for 2013/2013, by the House on Thursday, 20th June, 2013, a Supplementary Appropriation Bill is to be introduced to appropriate the money spent. The Committee has met and reviewed the Supplementary Appropriation Bill. The Supplementary Appropriation Bill, 2013 has taken into consideration the recommendations of the House on the second Supplementary Estimates. Critical input by the House was that the allocation to the ... view