Should President assent to this bill?

News & Politics
21

not central bank

22

hata uki edit. hapa ndio unaambiangwa little knowledge is very dangerous

23

i accept i have little knowledge bt have helped you to understand this bill will not go thru

24

Yes

25

Nyani haoni kundule bali…

26

Kcb tena?

27

Even if he doesn’t sign it, he will have to return it to Parliament with recommendations which will still be a win

28

Central bank ni CBK, CBA ni commercial bank of africa

29

UK is a wealthy man, in the event he signs it, it will be seen as a sign of philanthropy, sacrifice of business interests for the greater good:)

30

:D:D:D:D on ICC cases AG said UK owned nothing …hw comes today is arichman:)

31

It’s better to keep quiet and keep us guessing rather than open your mouth and prove you’re an idiot

32

Will it affect the NSE shares?

33

Trump also wants to do something similar to this in his numerous rants around but yake ni ya specific people. The high class citizens of the US of A; he claims that their vote will make him rid them of a good percentage of taxes. Its just alot of bullshit. There are consequences, even in our case, shida ni Wanjiku will feel it the most

34

ROLE OF GOVERNMENT
This bill just serves to protect 2 interests

  1. It is a populist bill. Introduced to endear to the hearts on Kenyans by a few people that failed to do any meaningful development for the people they represent hence this is their cheap last minute way.

  2. It is meant to protect the interests of the same politicians and that is why it was brought to the floor. We all know that politicians have some of the largest loans from banks and at this critical juncture towards elections, it is a quick way to ensure they break even quickly and can finish on defaulted loans.

    LET ME EXPLAIN MYSELF

The work of any government is to create/allow for the creation of infrastructure to promote growth within it’s countries by local && foreign businesses. This is a capitalist economy, which means the price should be dictated by demand && competition but not kept static or within certain confines.

WHAT SHOULD HAVE BEEN DONE

Why shouldn’t they start with offering cheap loans at banks where the government is a major shareholder e.g. KCB, NBK. Of course everyone will rush to open an account there and the process will lead to other banks having to reduce their interest rates.

The government should not keep creating legislature governing all sectors of business on the basis of a lot of profits are being made as it is doing with this bank bill and the new one on gaming companies i.e. sportpesa

HOW THIS IS GOING TO AFFECT YOUR BANK STOCKS

According to this new bill, the average loan rate is going to be 14% simple interest on reducing balance. Depositors will get at least 7% interest per annum on their deposits. Calculate the difference and that is the amount that the bank is making in profit. Factor in the current inflation of 6.3%. Remember that this has to pay for rent, labour, credit from other banks etc and return a profit on top which then has to be taxed at around 30%.

This basically means that in order to survive, banks will have to be more innovative, reduce labour costs and increase charges on things like transaction fee, account fees etc

Though the effect on bank stocks going down happened way before the bill was even introduced since the NSE market is undergoing a bear period at the moment. In fact, for the last 1yr it’s only 7 stocks out of the over 60 trading companies that have realised capital gains so it’s not only a bank thing as @Conservative dude may try to lead you to believe. It’s basically market correction and a wary investment as we approach elections.

35

KBRR rate is 8.9%. Capping interest at 5% above this means loans will be offered at a maximum rate of 13.9%. This interest income from loans will be subjected to corporate tax @ 30%. On the other hand, Treasury bills which are risk free give returns of 11.7%. They are subjected to a final WHT of 15%. If you were a bank CEO, where would you invest your excess liquidity?

36

Shida ya Kenya is the governement is the Corporate Company and the Authority Regulating the industry.

37

Mimi napatiwa loan at 1.5% na GoK

  1. Definition “pop·u·list”: a member or adherent of a political party seeking to represent the interests of ordinary people.
    Nitampigia Kura tena, huyu pekee ndio amenipigania! After we have been listed on CRB kama noisemaker. Sasa kizungu ilikuja na Faiba, HOW CAN THIS BE SERVING THE INTERESTS OF THE POLITICIANS & IS POPULIST (REPRESENTS INTERESTS OF ORDINARY PEOPLE). It cannot be populist and serving the interest of 349 politicians! Choose one

You don’t want them even KUTUFANYIA KAZI HII. Siku hizi kazi ya MP ni kuenda Nairobi, atleast huyu anakaa Kiambu. Na Tureda loans cia kuaka Rwaka!

  1. Since Dec 5, 2000 the Kenyan Parliament has tried to pass this bill. That means Wananchi tumeteseka sana. The CREDIT REFERENCE BUREAU REGULATIONS, 2013 was past in record time! Because tulidanganywa it will make loans become cheaper.
    Dec 5, 2000 - Kenya’s parliament today passed with amendments the Donde bill that seeks to regulate interest rates charged by commercial banks. Sorce: Kenya bill to control bank interest rates passed - Central Banking

Corporates (Limited Companies) with over 3 shareholders have more loans than individuals (their are only 349 seats in parliament) the total loans for 2013 was loans & advances amounting to Ksh. 1.4 trillion (Source: https://www.centralbank.go.ke/index.php/news/296-kenyan-banking-sector-registers-improved-performance )

[B][U]

[/U]

[/B]

Sasa kama akina M/s Barclays have paid the The Competition Authority of Kenya sis tutafanya nini.
Feb 10, 2016 - The Competition Authority has moved to investigate anti-competitive behaviours inKenya’s financial sector.
Source: Banking sector to face anti-competition investigation | Nation

  1. Wewe kazi yako ni teller kwa bank. You say "the work of any government is to create/allow for the creation of infrastructure to promote growth within it’s countries" msee skiza bana. The GoK should not offer cheap loans at its banks (sijui mbona hukusema Development Bank of Kenya), but offer Loans to get revenue from other countries or GIVE LOANS TO NOVEL IDEAS kama Youth Development Fund (vile pesa iliibiwa huko hauezi explain). Yaani tupatie watu wa Tz loan, alafu tuseme na lazima hiyo Co. ya kujenga iwe na Tax Compliance Certificate kutoka KRA na EACC cert.

The Central Bank of Kenya is where all the money comes from; ukienda Coop, DTB ama CITI. Pesa ilitoka Central Bank on loan to “The BIG Banks” who give it to Us WANANCHI at very high interest rates (Nyangau hawa)
Source: CBK’s profit rose to a record Sh48.1 billion in the year to June, buoyed by the rapid decline in the shilling’s value that began in January, CBK’s 2015 profits triple to Sh48bn on forex gains - Business Daily

  1. Bana Sportpesa is legally carrying out business. Unataka Government ianze kuniambia I can only bet 33% of my monthly earnings. The GoK and The National Assembly are different. The real reason is the banking families (The Shareholders; very hidden characters) are unable to be controlled! Over 75% of banking in Kenya is done by this banks below. Ata Chase bank walikuwa wanaenda KCB kuchukua loan kama WANANCHI.
    (Barclays:

KCB:
GoK & NSSF: 25%
Standard Chartered Kenya Nominees Ltd., A/C 18965 2.16%,
Standard Chartered Nominees Ltd., Non-Resd. A/C 9038 1.75%,

Standard Chartered:
Standard Chartered Holdings (International) BV 73.89%
32,000+ Institutional & Individual Investors on the Nairobi Stock Exchange 26.00%

Equity:
Norfininvest AS of Norway 12.23%,
Genesis Investment Management, LLP Registered in England & Wales no. OC 306866 Registered Office: 21 Grosvenor Place, London SW1X 7HU)

Diamond Trust Bank Group (DTB Group):
1 Aga Khan Fund for Economic Development (AKFED) 17.32%
2 HBL Pakistan of Pakistan part of AKFED 11.42%
3 Jubilee Insurance company of Kenya part of AKFED 10.54%
4 International Finance Corporation part of World Bank 9.85%
5 The Diamond Jubilee Investment Trust (U) Limited, a subsidiary of AKFED 1.87%

NOTE: NON RESIDENTS, This nominee accounts are how people hide paying taxes.

Safaricom’s full-year net profit for the period ending March 31 is Sh38.1 billion.
Kenya Ports Authority profits is 35 billion. Source: http://www.businessdailyafrica.com/Mombasa-port-boom-nets-KPA-Sh35-6-billion/1248928-3147442-88sndq/index.html
Kenya Pipeline, the state corporation posted Sh10.2 billion in profits before tax, up from Sh8.1 billion registered in a similar period in 2013.
Source: Pipeline profit jumps to Sh10b, plans mega projects - The Standard

[U][B]

[/B]

[/U]

Usidanganye watu kama MCA, … This basically means that in order to survive, banks will have to be more innovative, reduce labour costs and increase charges on things like transaction fee, account fees etc… The interest rate between 2000 - 2012 was less than 14%.

WHAT THE GoK SHOULD REALLY DO ABOUT INTEREST RATES:

  1. Reduce the DEPOSIT lending rates to maximum 2%! Why? Ndio banks iseme the only way we can make money is through lending to SISI. Ujue pesa yako ya Savings Account inapelekwa Central bank wachukue T bills. All over the World except Germany (wanawake especially) think that having an account with pesa mingi is being rich. COMMERCIAL BANKS DO NOT MAKE YOU RICH, THEY BECAME RICH’er! INVESTMENT BANKS MAKE YOU WEALTHY (Kirubi alikuwa anauza Magari akaanza idea ya Centum), The Forbes wealthiest are there because of SHAREHOLDING. Therefore, FORCING THE POPULATION by making money work for you through industry.
  2. Make each and every Kenyan with an Id pay tax (PAYE). Kama watu waChina. Kama ni Ruto kuenda Somalia kusema “Hawa watu wangu wanaeza kazi… utupatie Ha. 10,000 umeskia vile tulifanya Kulalu”. This will market of .KE
  3. Then, invest in the Currency (i.e Supply and Demand of KES). For instance, Muammar Mohammed Abu Minyar Gaddafi (nationalize the Oil industry, thereby selling Oil in Libya Dinar. In 1972, the Libyan Arab Foreign Bank was established to deal with overseas investment.)
  4. Politically invest in THE REPUBLIC of EAST AFRICA then THE FEDERAL GOVERNEMENT OF AFRICA. Mambo ya Uhunye and Opposition leader No.1 iieshe kabisa.

WATCH BITCOIN THE FUTURE OF MONEY

38

Three question marks hazisaidii. If you have facts, use them instead of innuendo.

39

hebu anzisha thread yako pekee uako utweleze kinaga ubaga tumefloat