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The move by Government to finally take over unclaimed assets is laudable. All unclaimed dividends, bankers’ cheques and cash deposits lying within the bank vaults will now be passed on to the Unclaimed Financial Assets Authority.
The list of other unclaimed financial assets that were passed on to the authority from yesterday, include pensions, cash held up within the mobile cash transfer system and safe deposit boxes for which rental fees has remained unpaid for more than two years. The intention is to help create a one-stop-shop for unclaimed assets estimated to run into billions of shillings.
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