Kenya: Unclaimed Assets Rising - Experts
By Joan Wairimu, 19 August 2011
With unclaimed financial assets currently estimated to be 10 billion shillings and rising, efforts are underway to collect views to be included in the Unclaimed Financial Assets Bill 2011, which went through second reading in parliament yesterday.
Legal Experts say although the Bill is good and is receiving goodwill, some of the suggestions they will be seeking include access to unclaimed assets data online. They also want transparency from the Unclaimed Assets Authority on how much assets are unclaimed and how the authority will use the assets. They will also be seeking to include proposals into other forms of holding assets like mobile banking and the property sector as the Bill currently provides for unclaimed financial assets.
Copyright © 2011 The Star. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com).
To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.
Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.