John Mbadi Ng'ong'o

All parliamentary appearances

Entries 1581 to 1590 of 7480.

• 11 Sep 2019 in National Assembly: Something else that also needs to be clarified here, and which the courts had asked us to do, is to be clear on the penalty. The original law says that a bank or a financial institution which The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor. view
• 11 Sep 2019 in National Assembly: contravenes the provisions of sub-section 2 commits an offence and shall on conviction be liable to a fine of not less than Kshs1 million or in default, the Chief Executive Officer (CEO) of the bank or the financial institution shall be liable to imprisonment for a term not less than one year. I want to agree with the court that this is ambiguous because it is saying that it is the bank or the financial institution that shall be liable to a fine. If that fine is not paid, then the CEO should be imprisoned for a term not less ... view
• 11 Sep 2019 in National Assembly: This is a very small Bill. The amendments are few and condensed. My job was just to try to make it clear so that Members can understand it. I have shared with a few Members and some of them thought that we are removing the 4 per cent interest rate capping. That is far from it. Hon. Jude Njomo seeks to bring clarity as was directed by the court so that come March 2020 when the deadline that the court gave us shall lapse, we shall not only be in conformity with the court order, but we shall also have ... view
• 11 Sep 2019 in National Assembly: My final remarks go to the banking sector. If they want cooperation from this House, let them demonstrate through action that they are concerned about their customers and the plight of Kenyans. Look at this Fuliza that I hear people borrow money through. It is basically the poor who borrow money through Fuliza . It is managed by a major financial institution whose shareholders are wealthy Kenyans. This is one way of expanding and enlarging the gap between the poor and the rich because you are taking money from the poor at very exorbitant interest rates and giving it to ... view
• 11 Sep 2019 in National Assembly: is managed by financial institutions. Why is it that they charge higher rates than what is prescribed in law? We want to ask the CBK why it allows these financial institutions to charge higher rates for products which they create outside the normal banking process. That is also covered in this law and there is no excuse. The CBK needs to rein in on these people. view
• 11 Sep 2019 in National Assembly: Thank you, Hon. Deputy Speaker, I second. view
• 11 Sep 2019 in National Assembly: Hon. Temporary Deputy Speaker, our Standing Orders are very clear that when you start speaking in English, you must speak in it throughout your speech. When you start in Kiswahili, you must continue consistently. The Member for Kikuyu had started speaking in English, and then he said that he had been tangatangaring . I have never known any English word called “ tangatangaring” . It is not even a Kiswahili word. So, he is speaking in either mother tongue or some other language I do not know where he got it from, which is not allowed in this House. If ... view
• 11 Sep 2019 in National Assembly: , if at all he was tangatangaring . view
• 11 Sep 2019 in National Assembly: Thank you, Hon. Temporary Deputy Speaker. I also want to make my contribution to this proposed amendment by Hon. Kimani Ichung’wah on the Public Finance Management Act. I think we are all in agreement. The moment the Supreme Court made a ruling in the form of an advisory opinion that the Division of Revenue Bill is a function of the two Houses, then without providing for the safety net on how to come out of possible disagreements and a dispute between the two Houses, it compromised the passing of this Bill to the extent that as a country, we saw ... view
• 11 Sep 2019 in National Assembly: true. In fact, the CRA simply came up with what they call the average inflation rate for the first three years of 6.5 per cent. They adjusted the Kshs314 billion figure which was provided in the last financial year and only added 6.5 per cent to it which they called an adjustment for inflation. Is that the figure that we are now being told to treat as if it is such a well-researched figure that we should not even debate about? The people of Kenya elected Members to the National Assembly. The National Assembly is the house of representatives of ... view