Malaysia’s Government is holding on to RM6.932 billion (US$1.68 billion) in unclaimed money, and is encouraging its owners to step forward and claim it.
Unclaimed money includes unpaid salaries, dividends, tender deposits and insurance claims, matured fixed deposits, and money in dormant trade, savings, current and fixed deposit accounts.
Deputy Finance Minister Amiruddin Hamzah said in Parliament on Wednesday (Nov 6) that the money was currently being kept by the Accountant-General’s Department in a consolidated trust account, Bernama reported.
Malaysia had RM10.862 billion in unclaimed money as of Oct 31 this year, of which RM2.085 billion had been refunded.
To help the rest find its rightful owners, the Government will launch an online system later this year or early next year where people can check if any of the money belongs to them.
It is currently being stress tested to avoid a system crash, he added.