Hitch in surrender of unclaimed assets to State
02 November 2012, 13:35
Nairobi – The Finance Ministry says that Kenyan companies may have to wait a little longer before they surrender unclaimed assets despite expiry of the deadline.
Speaking to Capital News, Assistant Finance Minister Oburu Odinga said that the process of forming the Unclaimed Financial Assets Authority may take longer because the ministry must ensure credibility of those who will take charge of its board.
The board is supposed to consist of a Chief Executive, Permanent Secretary to the Treasury and five persons selected by the minister.
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