Friday, August 14

Unclaimed monies stand at RM10.862 bln as at Oct 31

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KUALA LUMPUR: As at Oct 31 this year, unclaimed monies stood at RM10.862 billion, of which RM2.085 billion had been refunded, said Deputy Finance Minister Datuk Amiruddin Hamzah.

He said the remaining amount of RM6.932 billion of unclaimed monies are kept securely by the Accountant-General’s Department.

“To help people check on their unclaimed monies quickly, efficiently and accurately, the Accountant-General’s Department is in the process of developing an online system software. The system is expected to be introduced later this year or early next year.

“The system is currently undergoing a stress test. This is to avoid system crash after the data is uploaded,” he said when winding up debate on the Supply Bill 2020 at the committee stage at the Dewan Rakyat yesterday.

Amiruddin said the unclaimed monies, which were from accounts that have been dormant or inactive after more than 15 years, were surrendered and kept in a consolidated trust account.

“People can check on their unclaimed monies and claim the amount. We hope this online system can raise people’s awareness of their unclaimed monies,” he added.

On the country’s fiscal position, he said the government is on track to achieve a fiscal deficit of 3.4 per cent in 2019 and 3.2 per cent in 2020.

“Previously, we were aiming for a fiscal deficit of 3.0 per cent next year, but given the factors beyond our control such as the US-China trade war and Brexit, we have revised the target. We hope every quarters will do their best to strengthen the economy,” he said. .

The Dewan Rakyat continues today. — Bernama