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List Of Banks Collecting SHA Funds And Their Role

There is a lot of anger, tongues are wagging, and people are cursing in the wake of allegations of hundreds of millions of shillings from the Social Health Authority (SHA) being looted in broad daylight.

As the anger boils, it seems that nowadays, anger is the only thing that unites Kenyans, not facts. Some banks, such as Sidian Bank, have been drawn into the mix. Anyone with a keen eye will see how anger has blinded them to the facts.

To start, these are the six banks that are mandated to collect SHA Funds:

  1. Absa Bank
  2. Sidian Bank
  3. Co-op Bank
  4. Diamond Trust Bank
  5. Equity Bank
  6. KCB

Now, where people are missing the point is: what is the role of these six banks? Do they have a hand in the ongoing alleged scandal?

The role of the six banks is to collect the SHA contributions on behalf of employers and remit the same to the SHA accounts. This means that the role of the banks ends at collecting and remitting. SHA operates independently and decides how to utilize the funds. SHA is just as a customer to these banks like any other customer. A bank cannot decide how you use your money.

So, are the allegations against Sidian Bank true? Is Sidian Bank aiding corruption by taking part in the disbursement of SHA Funds?

The truth is, the allegations towards Sidian Bank are malicious, alternative truths, unfounded statements meant to push a certain agenda, mostly political, and cause panic among customers. Those pushing the narrative know that it is not true, but they are doing it anyway, because it suits their agenda.

Almost everyone is angry about how our taxes and resources are being looted in broad daylight without shame. But this should not stop us from scrutinizing issues and flying with the facts.

Related Content: Sidian Bank’s Role In SHIF Remittances: Here Is What You Should Know

Business Watch Team

Business Watch is an online business portal that is set to marry both the traditional media and the digital media and bring them under one umbrella

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