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Will compulsory bank acc. improve our living stds?
Rank: Elder Joined: 12/17/2009 Posts: 3,583 Location: Kenya
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This guys are not serious, you expect kids still in high school to be paying tax on the income they get.
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Rank: Elder Joined: 1/27/2011 Posts: 1,777
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nakujua wrote:This guys are not serious, you expect kids still in high school to be paying tax on the income they get.
If they can earn income while in high school why shouldn't they pay some tax on that income.
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Rank: Elder Joined: 5/4/2008 Posts: 1,703
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Impunity wrote:chemos wrote:Ric dees wrote:
..What a rubbish idea, reminds me recently when Tesco (big UK supermarket chain) hired a consultant to find out why water melons above a certain size are not bought and you know what the good consultant came up with after an exhaustive research he found out there is a co-relation between melons and womens bust hence women avoiding BIGGER watermelons...now thats what i call RUBBISH!!! am sure even the butchery man in Kayole can come up with better findings..
huyu jamaaa alifikiria kweli....:-d  So @Ric dees is that guy who at mbuzi 6 claimed he graduated from the Havard and was "Aiming IT" These Havard graduates have a peculiar habbit, dont look further but just see what Mbaaasss is doing all over the place!  Think Positive Test Negative
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Rank: Veteran Joined: 2/3/2010 Posts: 1,797 Location: Kenya
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this githae is a visionary...that's the future I may be wrong..but then I could be right
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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God gave us a mouth and stomach so that we can have reason to work. In a similar way once you have an account you'll ensure it has some savings! It's just sensitization. The opposite of courage is not cowardice, it's conformity.
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Rank: Veteran Joined: 1/25/2012 Posts: 1,624 Location: Langley
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Spot on Jerry! When i got my ID in 2010. I opened a bank account so i had to make sure there were some transactions. I spent 2011 as a guest at wazua doing some research on Nse while trying to save 20k. And by Dec. 2011 i had a cds account. Would that have happened had i not opened a bank acc? If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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Rank: Member Joined: 11/21/2006 Posts: 608 Location: Ruiru
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Githae is thinking, if I got away with "rat rant", I can get away with anything. Why can't we ensure that everyone can read n write first n that they have an ID. I know a number of kenyans well over 30 with no ID n they don't give a damn. "..I am because we are. "― Ubuntu, Umtu,
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Rank: Member Joined: 11/16/2011 Posts: 196 Location: united states of africa
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If opening an account is free of charge and doesn't have stringent rules like minimum balance that is supposed to be in one's account, check cashing fees, etc, etc, then I don't see where the problem is unless the minister hasn't thought of this yet. Energy.
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Rank: Member Joined: 3/18/2008 Posts: 377
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We should not just condemn the dude; I guess there are valid reasons for this. The problem with our media is that it does not more often than not carry out any analysis before reporting. Mpesa and banks could serve different purposes- I mean provide differentiated products and still remain competitive. Mpesa ideally serves as a transfer and transactional tool while bank accountS have a more added value of offering credit if supported by good history. Maybe there is neEd for banks to review the charges they levy on account holders so that 80% of the un-banked Kenyans open accounts. The Government can play a leading role in this by developing supportive regulatory and enabling policies. There are many ways to do this. "You've never lived until you've almost died; for those who have fought for it, life has a flavour the protected will never know."
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Rank: Elder Joined: 7/20/2007 Posts: 4,432
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Githae is a funny man. You can't compel me to save. If I want to spend all my money at Karumaindo, I'm protected by the constitution. A bank account is not the only way to save. I can save my money from high bank charges by putting it under a mattress and keeping range chicken. Why force me to earn an interest rate of less than 1%? If he wants me to save, he should force the banks to reduce their bank charges and pay me more interest. That's what happens when you give a lawyer economics, he's always looking for a loophole. Githae should stopping eating those rats. Jose: If I make it through this thug life, I'll see you one day. The Lord is the only way to stop the hurt.
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Rank: Veteran Joined: 1/4/2010 Posts: 1,668 Location: nairobi
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....lets hope Githae will also ensure every 18 year old Kenyan gets a job and free education/capacitation. If he ensures this, then its ok. He can tax as much as he wants since he will have assisted in the creation of the wealth/money in the account. As Iron Sharpens Iron, So one Man Sharpens Another.
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Rank: Member Joined: 1/1/2010 Posts: 511 Location: kandara, Murang'a
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essyk wrote:http://www.nation.co.ke/business/news/Bank+accounts+to+be+compulsory+for+all+Kenyans+over+18+years+/-/1006/1379498/-/6k2iciz/-/index.html
Finance minister Njeru Githae said the Kenyan economy has matured, which calls for every Kenyan to have a bank account in line with efforts to increase financial inclusion in the country, as per Vision 2030.
Also coming up will be a law compelling every Kenyan above 18 years to open an income tax file with the Kenya Revenue Authority, to help seal loopholes in tax collection. The two will be mandatory irrespective of whether one is earning an income or not.
I would like everybody to have one but is it realistic cz hata wale tunao tunasweat tu. Maybe this is where they will deposit Alaska-type or gaddaffi-type OIL CHECKs! #Turkanaoil Foresight..
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Rank: Member Joined: 6/17/2010 Posts: 572
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In the same train of thought the government should make having money for every Kenyan compulsory!,this is the height of idiotic statements made by a minister just to please a few bankers without thinking about the mechanics of how its going to work 'One headache for famous medieval holy people was that someone might murder you to acquire your body parts for the relics trade'
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Rank: Member Joined: 3/20/2009 Posts: 348
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This is just a plain damn idea.The govt or the minister should not be in the business of forcing people to take certain services.It sounds like a decree and kenya is not china.This is a personal choice issue and should not be an individual mandate.Am suprised that no one on wazua has argued it from this point of view.I am seriously hoping that this guy was misquoted by the media because after the "eat rats" comments and now this,clearly "houston we have a problem".
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Rank: Hello Joined: 4/5/2012 Posts: 1
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 how so??????
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Rank: Elder Joined: 8/11/2010 Posts: 1,588
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Because, it is immoral to compel people to do something for the banks when the banks find it equally disgusting to be compelled to do something for the people.
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Rank: New-farer Joined: 12/31/2011 Posts: 90
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Let's not crucify this guy. Having an account is not entirely a bad thing. I agree that the banking sector should put their act together so this thing could work. There lots of people using Mpesa and the like to save, transact etc so that means everyone would make use of some form of banking services if it was packaged correctly to appeal to even those who keep their money in the phone. And ideally if things were right, a bank account would be the better option. Mpesa would still be there to complement your bank account or to work together with your bank account.
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Rank: Elder Joined: 8/11/2010 Posts: 1,588
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There are some here among us whose money, mostly the almost minimum balance, is used to pay the charges to maintain the account.
They want to show they have bank accounts!
Wajitokeze.
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Rank: Veteran Joined: 11/30/2006 Posts: 635
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chemos wrote:Ric dees wrote:
..What a rubbish idea, reminds me recently when Tesco (big UK supermarket chain) hired a consultant to find out why water melons above a certain size are not bought and you know what the good consultant came up with after an exhaustive research he found out there is a co-relation between melons and womens bust hence women avoiding BIGGER watermelons...now thats what i call RUBBISH!!! am sure even the butchery man in Kayole can come up with better findings..
huyu jamaaa alifikiria kweli.. must be a harvard graduate.. HEEHEHE princeton graduate....@Smano  really earned his pay
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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YesuWangu wrote:There are some here among us whose money, mostly the almost minimum balance, is used to pay the charges to maintain the account.
They want to show they have bank accounts!
Wajitokeze. I understand the "YEA" account, co-op bank doesn't charge anything to its account holders but their age bracket should be 18-29 "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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