Sidian Bank has clarified its role in the ongoing rollout of the Social
Health Insurance Fund (SHIF), saying it only facilitates collections.
In a statement, Sidian Bank also said that it does not manage or retain
funds belonging to the Social Health Authority (SHA).
The bank emphasised that its involvement is
limited to channelling contributions from employers and employees directly to
the designated SHA accounts.
“Sidian Bank only facilitates collections,
remitting directly to SHA accounts. We do not hold or manage SHA funds,” the
bank said.
The Bank is among six Central Bank of Kenya (CBK)-licensed
banks, including KCB, Co-operative Bank, Equity, Absa and DTB, selected to
handle SHIF remittances after consultations with employers.
The selected banks are expected to provide secure and efficient collection
platforms to support compliance with the new health financing model.
The clarification comes amid growing public interest in how SHIF
contributions are being collected and managed as the government transitions
from the National Health Insurance Fund (NHIF) to the new scheme.
A section of social media users had claimed that the bank is partly owned by
a senior government official.
Others claimed it is the reason it transacts over 80 per cent of SHA funds.
SHA has been tasked with overseeing the
utilisation of the funds to improve access to affordable healthcare across the
country.