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{
    "id": 77753,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/77753/?format=api",
    "text_counter": 147,
    "type": "speech",
    "speaker_name": "Mr. M’Mithiaru",
    "speaker_title": "",
    "speaker": {
        "id": 72,
        "legal_name": "Ntoitha M'mithiaru",
        "slug": "ntoitha-mmithiaru"
    },
    "content": "Mr. Speaker, Sir, I thank the Assistant Minister for the answer he has given, but the figure of Kshs9.1 billion that he has given as the amount of the unclaimed assets is an under-statement. If we consider all the financial institutions in the country – banks, insurance companies and pension funds – and the amount of money lying with them unclaimed, because the owners have not been traced, this should be a worry to the Government. The objective of this Question is actually to have the Government intervene because by the best international practice, the Government must be the custodian of all unclaimed assets. We have seen instances in the banks where even we have huge sums of money lying in dormant accounts. After a few years, that money is written back to the profit and loss account, and it is later distributed to the shareholders when the actual owners of those funds are languishing in poverty because they do not know. What is he doing to put in place a reporting mechanism, so that, at least, these unclaimed assets are enjoined with their owners?"
}