Hon. Richard Nyagaka Tongi

All parliamentary appearances

Entries 61 to 70 of 598.

• 18 Aug 2021 in National Assembly: Thank you, Hon. Temporary Deputy Speaker for the opportunity to speak to this amendment, which I think is very timely. The Bill is by my good friend and brother from another mother, Hon. Rahim Dawood, a man I have learnt to respect a lot. This is coming at a time when Kenya needs this kind of an amendment considering that in the past we have had to suffer as a country. Many people have lost a lot of money to banks which have gone under receivership because the law then provided for a maximum refund of Ksh100,000. As a banker, ... view
• 18 Aug 2021 in National Assembly: The other cure that I see coming from this amendment Bill is that we will encourage people to deposit money in their accounts instead of keeping it in their houses. They will trust the banks to keep their money, so that it is safe and secure. From experience, I know of so many Kenyans who, out of fear, have decided to convert their houses into investment banks where they keep their money. It is because they fear that if they put the money in the bank, it will be lost. This amendment Bill will somewhat go a long way to ... view
• 18 Aug 2021 in National Assembly: I see this amendment Bill also helping the small banks which have suffered a lot because the most serious customers fear putting their money there. Remember, even institutions such as the National Government Constituencies Development Fund (NG-CDF) Board lost almost Ksh450 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
• 18 Aug 2021 in National Assembly: million to a bank which went under. That is a lot of money that we lost as a country. I am sure they are putting systems in place to ensure that we recover that money. However, because we did not have this provision then, we now have to work backwards to get a way of remedying and recovering that money. If institutions have lost money of that magnitude, you can imagine what happens to an individual investor who has… view
• 18 Aug 2021 in National Assembly: Thank you, Hon. Temporary Deputy Speaker. I was struggling to breathe. That is why I removed it temporarily, but because breathing in the hospital is worse than struggling here, I respect your guidance. As I was saying, there are people who have lost money and have lost confidence in small banks. We are a small and emerging country. We need to assure people who have capital that they can start small micro-finance institutions or a bank and attract customers. If we do not do that, we will rely on the multi-national banks which have already established themselves and can only ... view
• 18 Aug 2021 in National Assembly: customers because that way, we will all have a win-win situation for both the bank and the depositor. I had a chance to work in one of the most gracious banks in this country - the Cooperative Bank. It is one of the banks which was able to grow from a loss-making institution of almost Ksh3 billion to maybe the second biggest bank in Africa. That is a demonstration of what Kenyan managers can do. Gideon Muriuki is on record as having transformed that bank from a loss-making institution into a very profitable bank. That is why we should encourage ... view
• 7 Jul 2021 in National Assembly: Thank you, Hon. Deputy Speaker for giving me the opportunity to also speak to this Foreign Service Bill. For the longest time since Independence, as a country, we have been shooting in the dark. We have never had a Bill explaining the procedures, processes and management of Foreign Service and yet, we know Kenya as a country has gained immensely from Foreign Service institutions. I want to take this opportunity, on behalf of the Committee, to appreciate the Chairman, Hon. Katoo for the leadership that he has provided in ensuring that we have come up with this Bill. From those ... view
• 7 Jul 2021 in National Assembly: separate their functions so that, at least, each one of them will know their limits and what it is that they are supposed to do. Staffing has been one of the previous challenges that we have experienced. Some of the embassies abroad are employing people who are handling critical issues of the country and yet, they are not Kenyans. We are proposing that in those countries, if there is an opportunity to give a Kenyan who is a citizen in that country an opportunity to serve, we will be able to achieve a lot more not just in terms of ... view
• 1 Jul 2021 in National Assembly: Hon. Speaker, I beg to lay the following Paper on the Table of the House: 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
• 1 Jul 2021 in National Assembly: Report of the Departmental Committee on Defence and Foreign Relations on its consideration of the Foreign Service Bill (National Assembly Bill No. 8 of 2021) view