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Unclaimed Assets Authority yet to be setup

5th September, 2012

Nine months since President Mwai Kibaki assented to the Unclaimed Assets Bill, The Ministry of Finance is yet to establish the Unclaimed Assets Authority. This in effect has robed the country of a legal framework for the government to handle the cash to be passed on to its rightful beneficiaries. The international institute for legislative affairs now wants treasury to set up the authority that could see billions of shillings, roped in to stimulate economic growth. Michael Karanja puts it in perspective.