Judah ole Metito

All parliamentary appearances

Entries 191 to 200 of 1895.

• 11 May 2017 in National Assembly: Thank you, Hon. Speaker. Hon. Speaker, I beg to move that the Nairobi International Financial Center Bill, (National Assembly Bill No.5 of 2017), be read a Second Time. As an introduction to this Bill, I would like to comment on a few areas because it is mostly about business and finances. An international financial centre is a location which hosts a conglomeration of companies that offer a wide range of financial services and related activities. Those centers are always characterised by the presence of advanced settlements and payment systems, supporting large domestic economies with deep and liquid markets where both ... view
• 11 May 2017 in National Assembly: Thank you, Hon. Speaker. Hon. Speaker, I beg to move that the Nairobi International Financial Center Bill, (National Assembly Bill No.5 of 2017), be read a Second Time. As an introduction to this Bill, I would like to comment on a few areas because it is mostly about business and finances. An international financial centre is a location which hosts a conglomeration of companies that offer a wide range of financial services and related activities. Those centers are always characterised by the presence of advanced settlements and payment systems, supporting large domestic economies with deep and liquid markets where both ... view
• 11 May 2017 in National Assembly: Finally, on overview and as a way of introduction to this Bill, Kenya is also well situated geographically. As I said, you have to be very strategic. Location is very important in terms of business competitiveness. Kenya is well situated geographically and strategically than its neighbours, some of which are landlocked countries. Kenya offers the best transport and connectivity network in East Africa, with four-hour flight time to most African countries. With such characteristics, it beats all the odds and it is important that Nairobi becomes an international financial centre in the region. This is supported by the national carrier, ... view
• 11 May 2017 in National Assembly: Finally, on overview and as a way of introduction to this Bill, Kenya is also well situated geographically. As I said, you have to be very strategic. Location is very important in terms of business competitiveness. Kenya is well situated geographically and strategically than its neighbours, some of which are landlocked countries. Kenya offers the best transport and connectivity network in East Africa, with four-hour flight time to most African countries. With such characteristics, it beats all the odds and it is important that Nairobi becomes an international financial centre in the region. This is supported by the national carrier, ... view
• 11 May 2017 in National Assembly: Clause 3 says that where there is any conflict on inconsistencies between this Act and the provision of any other Act in matters relating to the purpose of this Act, this Act shall prevail. That is why Clause 3 explains the supremacy of the Act. Should there be any other written law that relates to the purpose of this Act and should there be conflict, this Act prevails if it becomes an Act. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor. view
• 11 May 2017 in National Assembly: Clause 3 says that where there is any conflict on inconsistencies between this Act and the provision of any other Act in matters relating to the purpose of this Act, this Act shall prevail. That is why Clause 3 explains the supremacy of the Act. Should there be any other written law that relates to the purpose of this Act and should there be conflict, this Act prevails if it becomes an Act. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor. view
• 11 May 2017 in National Assembly: Clauses 4 to 18 provide for the establishment of the Centre and the Authority especially when you look at Clause 5. Clause 5 establishes what is called Nairobi International Financial Centre Authority (NIFCA) which is a Legal Notice No.44 of 2014 that the President signed. It says in Clause 5(3) that the Authority shall be the successor to the NIFCA established under the Nairobi International Financial Centre Authority Order No.44 of 2014. Therefore, if this becomes an Act, it is just a transition from that Order No.44 of 2014 to this proposed Bill. Most importantly, Clause 6 talks about the ... view
• 11 May 2017 in National Assembly: Clauses 4 to 18 provide for the establishment of the Centre and the Authority especially when you look at Clause 5. Clause 5 establishes what is called Nairobi International Financial Centre Authority (NIFCA) which is a Legal Notice No.44 of 2014 that the President signed. It says in Clause 5(3) that the Authority shall be the successor to the NIFCA established under the Nairobi International Financial Centre Authority Order No.44 of 2014. Therefore, if this becomes an Act, it is just a transition from that Order No.44 of 2014 to this proposed Bill. Most importantly, Clause 6 talks about the ... view
• 11 May 2017 in National Assembly: involved several stakeholders including the CBK especially those who are critical in the running of the financial sector in this country, namely the Capital Markets Authority, the Insurance Regulatory Authority, the Office of the Attorney-General and the Department of Justice, the Judiciary, the Nairobi Centre for International Arbitration and the private sector, in workshops held in 2014, 2015 and 2016. There has been public participation all through as required by our laws. Therefore, they have made almost everyone to understand and appreciate the provisions of the Bill. Suggestions by the stakeholders are fully incorporated into the Bill. As I said, ... view
• 11 May 2017 in National Assembly: involved several stakeholders including the CBK especially those who are critical in the running of the financial sector in this country, namely the Capital Markets Authority, the Insurance Regulatory Authority, the Office of the Attorney-General and the Department of Justice, the Judiciary, the Nairobi Centre for International Arbitration and the private sector, in workshops held in 2014, 2015 and 2016. There has been public participation all through as required by our laws. Therefore, they have made almost everyone to understand and appreciate the provisions of the Bill. Suggestions by the stakeholders are fully incorporated into the Bill. As I said, ... view