Kshs.3 billion has been surrendered to the Unclaimed Financial Assets Authority (UFAA) by holders through the Unclaimed Assets Account in the Central Bank of Kenya (CBK).
The National Treasury Cabinet Secretary Mr. Henry Rotich said the holders of the Unclaimed Financial Assets surrendered them to UFAA according to the law.
“It is the priority of the common good that should permeate all sectors of government trickling down to our people.  And for this, I say well don UFAA and keep it up”, said Mr. Rotich.

The Cabinet Secretary was speaking during the official launch of the Unclaimed Financial Assets Authority at Kenyatta International Convention Centre (KICC) Nairobi.
Mr. Rotich commended UFAA for adopting e-government including a vibrant website, saying secure public service oriented digital platforms promote open governance, accountability and timely service delivery.
He disclosed that the Authority is in the process of obtaining and incorporating an electronic database of all Unclaimed Assets submitted to it and further make the data available to the public.
He added “The procurement, acquisition, installation and Commissioning of Information Technology system is an important process towards realizing an effective database and information sharing channel on Unclaimed Financial Assets.  This system will be a secure channel through which the affected families of owners of Unclaimed Financial Assets will be enabled to trace their rightful possessions and make proper claims”.
In light of the sensitive nature of assets, Mr. Rotich commended the Authority for taking into account the cardinal restrictions and constitutional privileges protecting the privacy of the owners.
He said the Government will assist the Authority to meet its strategic objectives and more so in its efforts to boost the Government’s social transformation, economic growth and better lifestyles agenda.
In line with the Government’s broader objectives of attaining Kenya Vision 2030, the Cabinet Secretary said he was pleased to note that the Authority’s operations as are anchored on the Medium Term Plan of the blue print development agenda of our nation.
After unveiling UFAA which is mandated to trace, safeguard and reunite the people’s collective dreams, Mr. Rotich urged the Authority to trace all the rightful owners of Unclaimed Financial Assets with commitment and dedication.
He said UFAA has capitalized on its one year existence to reinvigorate hope where despair flickered, motivate excellence where discouragement reigned and re-ignite a strong belief in Government when trust was waning.

“The Authority’s express mandate effectively contributes towards the realization of a comprehensive and effective framework of consumer protection ensuring a fair, inclusive, vibrant and globally competitive financial sector”, said Mr. Rotich.
He said the Authority came into being as a result of an all-inclusive, wide, broad and merit-based consultative process which exhausted the best among all the stakeholders involved and ensured that the authority is recognized and owned by the Kenyan people.
“The Trust Fund Account of UFAA was opened by the Authority at the Central Bank of Kenya in June, 2014.  Unclaimed Financial Assets include cash in a bank, shares, insurance policies, cheques, drafts, deposits for utility services or contributions to retirement benefit schemes”, added Mr. Rotich.
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