Over 100 million Kuwaiti dinars remain unclaimed after several years

KUWAIT: In a unique case, banking sources revealed the existence of huge sum of money exceeding 100 million dinars, which remains unclaimed for several years, reports Al-Rai daily.

The same sources said these funds are cash dividends from dozens of listed and non-listed companies. The sources explained a large part of the ‘forgotten’ money is deposited over about 10 years, and perhaps more, referring to the accumulation of cash dividends at banks without anyone claiming the money.

The sources said the cash distribution funds are different from inactive accounts in banks. Sources pointed out that these amounts were deposited after the recommendations of the boards of directors of companies, and the adoption of the General Assemblies, noting that these funds at the moment is in the custody of banks but do not have the right to dispose.

“ The sources said that many of the owners of accounts or old shareholders used to keep their shares and their ownership in the safe and left their quotas and cash dividends are doubled year after year, and for one reason or another may have forgotten these accounts.

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