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{
    "id": 29967,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/29967/?format=api",
    "text_counter": 716,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Mr. Temporary Deputy Speaker, Sir, if I may single out the issue of the banks themselves, sometimes we find there are those dormant accounts. Those dormant accounts are sometimes there for a long time within the bank. Those assets are already unclaimed. What those banks do is that with passage of time, they will write back those unclaimed balances to their profit and lose account and then add to their meager profits. Those profits, especially for multinational banks, end up being repatriated to the shareholders abroad. So, you can see how the meager savings, because they are being unclaimed, are repatriated. We also do not have a mechanism to ensure that the unclaimed funds are connected back to their owners. So, I am sure this Bill sets out a mechanism that will ensure that these assets are taken back to the owners themselves. It will also ensure that there is a formal mechanism of ensuring that those financial assets are taken back to their owners. It is with this that they have been able to propose the establishment of a trust fund---"
}