Dr. Nuh Nassir Abdi

All parliamentary appearances

Entries 361 to 370 of 1551.

• 19 Apr 2012 in National Assembly: Mr. Temporary Deputy Speaker, Sir, the Minister misled the House into believing that the moment we pass this amendment, it means that all banks will charge 22 per centum because the CBK rate is at 18 per cent, which is clearly misleading. view
• 19 Apr 2012 in National Assembly: Mr. Temporary Deputy Chairman, Sir, I want to persuade my colleagues that if some of us are motivated by any political sin, I am not aware. But first I view
• 19 Apr 2012 in National Assembly: Mr. Temporary Deputy Chairman, Sir, I am glad that Mr. Duale has given more credence to my argument. I want to say that the Finance Bill has been in abeyance majorly because of this pending amendment of Mr. Midiwo that has to do with regulating the interest rates. I want to remind hon. Members that there was a time when this House was called to the Kenyatta International Conference Centre (KICC) by the two Principals. The leader of my party, the hon. Vice-President was there and I do not see any circumstances that have changed since Members of this House ... view
• 19 Apr 2012 in National Assembly: Mr. Temporary Deputy Chairman, Sir, I just want to say, for the record, that when the Finance Bill was in abeyance, some of us tried to see whether it was possible to crack the nuts because we wanted a win-win situation, a situation where the Government which was so much averse to regulation of interest rates because of conditions they are saying have been set by the IMF; maybe there is fear that this will cause disarray in the financial sector. It wants to be pleased on one hand and on the other hand it wants to ensure that Kenyans ... view
• 19 Apr 2012 in National Assembly: I want to report progress of those meetings. view
• 19 Apr 2012 in National Assembly: I should be protected because there are hon. Members who are consulting loudly. view
• 19 Apr 2012 in National Assembly: Mr. Temporary Deputy Chairman, Sir, I want to report progress; I want to say that we sat down with the bankers’ association and all the banks involved for more than three times. We were trying to build consensus. At one time we said that we were willing to even drop the amendment, because--- At the end of the page, I have a similar amendment to that of Mr. Midiwo. We said that we were willing to drop the amendment but they had to tell us how they were going to take care of the interest for the sake of Kenyans ... view
• 19 Apr 2012 in National Assembly: In fact, that gave us more teeth; we told them if they were talking about 25 per cent of borrowers, that was very small amount of money. We told them to concede to the idea that if there was someone they had lent at the interest rate of 13 or 15 per cent and he was repaying the loan at an interest rate of 28 per cent because of the so-called inflation, to take that interest regime back to the 13 per cent. In the next meeting, they came up and said they had given us the wrong statistics. The ... view
• 19 Apr 2012 in National Assembly: I want to give the reasons as to why we want this amendment. Today, every bank has a specific lending rate that it has set on its own criterion and no one regulates it. M/s Barclays can set at 18 per cent, the Kenya Commercial Bank (KCB) can set at 22 per cent, and any other bank can set at 30 per cent and they are honest. They will tell you: “This is our lending rate; so we are charging you 3 per cent or 4 per cent plus.” When you ask the Central Bank of Kenya (CBK), the regulator ... view
• 19 Apr 2012 in National Assembly: So, the Kenyan borrower is left at the mercy of banks which determine which rates they are going to lend at. view