SWAHILI MAGAZINE

Ten Members of Parliament have been nominated as the most favourite leaders in 2014. Through online voting, Kenyans nominated their most favourite MP in 10 different categories, with three nominees initially in each category. The parliamentarians were selected based on Bills moved, contributions to Bills, motions raised and statements issued from March 2013 to November 2014. The categories, under the banner Wanjiku’s Best Representative, are education, water, health, food, devolution, oversight (progressive legislation), budgetary oversight and youth. The 10, who include members of the National Assembly and the Senate, are in the 2014 People’s Shujaaz Awards. THE NOMINEES MPs Boniface Gatobu (Buuri constituency in Meru County) and Senator Boni Khalwale (Kakamega) have been nominated as the most favourite leaders in the education category. Mr Gatobu was nominated for moving a motion urging the government to establish a public databank of all bright students from low-income families. The...

ONE would often observe that whenever we want to open a new bank account with any bank, one of the forms which we are asked to fill is called ‘KYC’ form. What does this acronym ‘KYC’ mean to a normal human being? The expanded form of ‘KYC’ is nothing but it stands for - “Know Your Customer”. This famous acronym i.e. ‘KYC’ is very popular in the banking/ financial industry across the world. “Know your customer (KYC)” is the due diligence that banks/ financial institutions and other regulated companies must perform to identify their clients and ascertain relevant information pertinent to doing financial business with them. ‘Know your customer (KYC)’ policies are becoming increasingly important globally to prevent/ identify transactions relating to theft, fraud, money laundering and terrorist financing etc. Howsoever influential one might be no bank of professional standing will open an account until that customer passes the mandatory ‘KYC’ guidelines/ procedures. That being the practice ...