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{
    "id": 1503323,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1503323/?format=api",
    "text_counter": 563,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. This is one of the Bills that were sponsored by the Leader of the Majority Party and referred to the Departmental Committee on Finance and National Planning. In as well as we appreciate the need to have people designate others to get their unclaimed assets, one of the matters that we are grappling with as a committee is the risk that is put on those unclaimed assets. These unclaimed assets are financial and, therefore, there would be insurance compensations, money in bank accounts, balances in M-PESA accounts etc. And the reason why they would be in the Unclaimed Assets Authority in the first place, is because the owners of these funds may not be aware that that money exists. For example, you probably opened a bank account many years ago when you were younger and forgot about it, or lost a phone that had an M-PESA balance in it. And therefore, the fact that you do not use that number anymore, money owned by you could still be in that M-PESA account. If we allow someone to designate someone else to be paid that money on their behalf, we could have some unscrupulous people going around looking for unclaimed monies in the fund and claiming that they have been authorised to access it on one’s behalf. Consider that the real beneficiaries of those funds may not even be aware."
}