The Unclaimed Financial Assets Authority (UFAA) is calling Kenyans to claim unclaimed shares by August 31. A notice from the Authority says that institutions have reported over 800 million with of unclaimed shares due for resale after the August 31 deadline.
“Members of the public are notified that various institutions have reported over 800 million units of unclaimed shares among other assets. The Authority wishes to advise apparent owners or beneficiaries to lodge claims,” reads the notice.
UFAA requires owners or beneficiaries of unclaimed shares to obtain a holders’ letter from the shares registrar and submit their claims on the agency’s website.
Kenyans can confirm if they are beneficiaries or owners of unclaimed shares through the USSD code *361# or by visiting the UFAA website.
The UFAA is an agency responsible for reuniting Kenyans with abandoned assets from different holders like insurance companies, banks, pension schemes, mobile money wallets, and legal firms. Financial institutions and other holders pass assets to the agency in the incident they cannot facilitate transfers to beneficiaries, which are in turn held in a Trust Fund. As of last year September, the agency held over Ksh 241 billion in unclaimed assets spread in over 447,000 institutions.
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