Depositors with collapsed banks compensated

Depositors with collapsed banks compensated
Published: 14 February 2018
A total of 11,744 out of 54,909 depositors of six collapsed banks have each been compensated up to $500 from the Deposit Protection Fund.

Official data seen by the ZBC News today indicate the depositors of the collapsed banks were being paid a maximum of five hundred dollars with the remainder of the savings being mobilised through liquidation processes or even the sale of assets of the failed banks.

It also shows that in monetary terms, a total of $3,2 million has been paid out to depositors, reflecting a 50 percent net exposure from the total of $6,4 million for compensation.

Deposit Protection Corporation CEO, Mr John Chikura told reporters that measures are being put in place to finalise the compensation processes.

Six banks closed operations since the inception of the multiple currency system in 2009.

The Reserve Bank of Zimbabwe (RBZ) has put in place new policies that have seen a strong, safe and vibrant banking sector.

- zbc
Tags: Banks,


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