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Lawyer sues for Muslim client’s bank interest cash

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A Muslim client declined interest of Sh762,000, arguing his faith did not allow him to earn interest. FILE PHOTO | NMG 

A lawyer has sued the National Intelligence Service (NIS) staff’s scheme over interest money that a Muslim client declined to collect.

Mr Sam Owino represented Salahidin Properties owned by Yahya Ibrahim in a deal in which the scheme purchased properties from the firm.

During the transaction, the purchase price of Sh31 million was deposited in an escrow account in the name of Mr Owino and the scheme’ lawyer.

After the transaction was completed, the director of the firm, who is a Muslim, collected the principal but declined interest of Sh762,000, arguing his faith did not allow him to earn interest.

NIC Bank #ticker:NIC, transferred the cash back to the NIS scheme upon request by the administrator, which Mr Owino says was irregular.

“The defendant’s (NIC Bank) action in paying or transferring monies outstanding in the said Escrow call deposit account to a third party without instructions to that effect from the plaintiff smacks of collusion between the defendants, NSIS [sic] staff superannuation scheme… to steal the monies in the said account,” says Mr Owino.

The scheme says the lawyer’s pursuit is against the wishes of his client.

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