19 Apr 2012 in National Assembly:
Mr. Temporary Deputy Chairman, Sir, if the issue is about banks making super profits, the solution is not to cap interest rates. The solution is for me to come up with a law that will tax the super profits. Again, interest rates are on their way down. At the moment, there are three banks which are charging 15 per cent. The majority are at 19 per cent.
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19 Apr 2012 in National Assembly:
Lastly, we have been talking about this matter with a committee that was established. We had actually agreed that we will oppose this amendment. This will give us time between now and June, because we must bring another Finance Bill, to discuss and agree with the banks on this issue.
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19 Apr 2012 in National Assembly:
Mr. Temporary Deputy Chairman, Sir, if the things I have said happen, then we will know who is responsible; it is any hon. Member who supports this amendment. You will be responsible for the financial crisis! You will also be responsible for banks closing- ---
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19 Apr 2012 in National Assembly:
You will be responsible for lack of roads---
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19 Apr 2012 in National Assembly:
Thank you, Mr. Temporary Deputy Chairman, Sir. I just want to say one thing; the cause of the banking crisis in 1980 was the low capitalization and that is why Central Bank has, over the years, been increasing the capital for banks. We are encouraging mergers, and a few banks have merged. We are encouraging amalgamations. So, if you are a small bank, the way is to merge or to amalgamate with another one, or to be taken over by another bank. Let me come to the argument that we are closing the door on other people; we are not ...
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19 Apr 2012 in National Assembly:
Mr. Temporary Deputy Chairman, Sir, lastly, now with agency banking - forget about having a bank in the headquarters of every county – every shop now is a branch, which has now been adopted by almost all the major banks. So, you can open an agency in your kiosk and it is allowed. So, you are not being prevented from banking sector.
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19 Apr 2012 in National Assembly:
Mr. Temporary Deputy Speaker, Sir, I oppose.
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19 Apr 2012 in National Assembly:
Mr. Tempraory Deputy Chairman, Sir, I beg to move:- THAT, the Finance Bill 2011 be amended by inserting the following new clause immediately after clause 43 –
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19 Apr 2012 in National Assembly:
Mr. Temporary Deputy Chairman, I beg to move:- THAT, the Finance Bill 2011 be amended by inserting the following new clause immediately after Clause 44-
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19 Apr 2012 in National Assembly:
Mr. Temporary Deputy Chairman, Sir, I beg to move:-
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