This is the lead story in Business Daily today.

BBK and SCB are going to be the hardest hit as they still hold the biggest chunk of unclaimed assets.

BBK was smart to sell its Custodial Business as they saw this coming.

Equity bank is still young and thus has not accumulate alot of the unaccounted for assets.

Here is an excerpt.

Banks, for instance, draw from their pool of customer deposits - including unclaimed deposits - to fund their lending business but the new law is set to change this.

At an average lending rate of 14 per cent, banks could lose interest income of up to Sh14 billion should the more than Sh100 billion in unclaimed deposits --representing eight per cent of total deposits-- be taken by the authority.

http://www.businessdaily.../1/-/bx08kh/-/index.html

[quote=Surealligator]This is the lead story in Business Daily today.

BBK and SCB are going to be the hardest hit as they still hold the biggest chunk of unclaimed assets.

BBK was smart to sell its Custodial Business as they saw this coming.

Equity bank is still young and thus has not accumulate alot of the unaccounted for assets.

Here is an excerpt.

Banks, for instance, draw from their pool of customer deposits - including unclaimed deposits - to fund their lending business but the new law is set to change this.

At an average lending rate of 14 per cent, banks could lose interest income of up to Sh14 billion should the more than Sh100 billion in unclaimed deposits --representing eight per cent of total deposits-- be taken by the authority.

http://www.businessdaily...1/-/bx08kh/-/index.html[/quote]

I do agree with you and support the authority in getting these assets.If you look at the recent happenings in the banks where the employees have been getting big from these unclaimed assets,you are left to ask who the beneficiaries are.If the beneficiaries cannot be traced,let the authorities take the assets back.

What the hell are you talking about?
100 Birrions lying somewhere unclaimed?And banks lending this out?

Lakini, these days you need them

Mpango Wa Kando phone number
MWK M-Pesa account
MWK salo
MWK apartment/flat

My chudren shud not suffer in my absence. Andikisha will na wakili -kama mimi ntawapatia discount- if I u don't trust ur wife (of which I don't advocate for).

Kwasababu umekaficha.

MaichBlack, what do you suggest?

At least my wife will steal from me... The lawyer will steal from my kids too!