Kenya’s National Treasury has invited public comments on the Draft National Policy on Unclaimed Financial Assets, 2026. The aim is to improve the collection, management and reunification of unclaimed assets with rightful owners. The public discussions will also seek to unlock dormant wealth, improve household liquidity and promote economic inclusion.
Public participation forums are scheduled for November 23rd–December 4th, 2026, across 11 venues. The Deadline for written submissions is December 4th, 2026.
The draft policy paper comes amidst significant challenges faced by several reporting authorities, in transferring the unclaimed assets to the Unclaimed Financial Assets Authority(UFAA).
The most recent incident followed complains and counter accusations between UFAA and the Central Depository and Settlement Corporation(CDSC) concerning the transfer of unclaimed securities from the depository to UFAA.
While Kenya still lacks a clear legal framework that deals with unclaimed financial assets, the value of these assets continues to rise sharply, exposing weaknesses in the systems used to identify owners, safeguard assets and reunite them with beneficiaries.
The proposed reforms put technology and data at the centre of the new framework.
The Government plans to introduce standardised reporting formats for institutions holding unclaimed assets and establish integrated data management systems to facilitate sharing, validation and reconciliation of information.
Existing unique identifiers and digital records will also be leveraged to improve the tracing of owners and beneficiaries.
The policy also seeks to simplify access to claims, particularly for low-value assets.
It proposes differentiated claims procedures to reduce the administrative burden on claimants and improve settlement rates.
Legal reforms will seek to bring emerging asset classes, including digital financial assets, within a clearer regulatory framework.
The Government also intends to harmonise provisions across laws governing financial assets to eliminate conflicts and strengthen enforcement of reporting and surrender obligations by institutions.
Sections of the Draft Paper
Asset protection is another major pillar. The proposed framework will cover the receipt, custody and safeguarding of different asset classes, while providing clearer rules for foreign currency-denominated assets.
Such assets would be surrendered in Kenya shillings using prevailing Central Bank of Kenya exchange rates.
The policy further proposes an enterprise risk management framework to strengthen accountability and protect assets held in trust for rightful owners.
The exchequer also wants UFAA to expand its physical and digital footprint.
This includes recruiting and training specialised staff, decentralising services, automating claims and reporting, and strengthening inter-agency coordination.
Public awareness will receive greater attention, with sustained education campaigns targeting both asset holders and beneficiaries.
Financial institutions, regulators, government agencies, professional bodies and other stakeholders will be expected to play a more active role in improving compliance and tracing owners.
The proposed reforms come with ambitious performance targets.
The policy seeks at least 90 per cent compliance among reporting institutions, at least 95 per cent accuracy in submitted reports and an annual reunification rate of at least 20 per cent.
At its core, the policy seeks to turn unclaimed financial assets from dormant wealth into resources returned to households and businesses.
The National Treasury argues that successful reunification can strengthen household savings, investment and economic resilience while protecting the constitutional right to property.
According to the policy, the estimated value of unclaimed financial assets in Kenya rose by 63 percent from Sh241 billion in 2018 to Sh394 billion in 2025.
The financial and insurance sector accounts for the largest share at 67.7 per cent, followed by the energy sector at 13 per cent and telecommunications companies at five per cent.
Insurance firms accounted for 5.3 per cent, while pension funds and Sacco societies held 0.1 per cent and 0.3 per cent respectively.
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