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Former Cabinet Minister Raphael Tuju before The Departmental Committee on Finance and National Planning at Bunge Towers, Parliament, Nairobi on July 28,2026. [Elvis Ogina, Standard]
The National Assembly committee on Finance has said it will now require the East African Development Bank (EADB) directors and National Treasury Cabinet Secretary, John Mbadi, to appear before it to shed light on its operations in the country.
The committee Chairman, Kuria Kimani said the Constitution is clear that the regulatory body for banking services is Central Bank of Kenya (CBK) but neither the law or the bill addresses that aspect, noting that if EADB is to undertake banking transactions in the country, it should be subject to supervision of CBK.
He made the remarks after former Cabinet minister Raphael Tuju made a presentation on the East African Development Bank (Amendment) Bill (National Assembly Bill No. 33 of 2026) yesterday.
