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Dubai Bank’s liquidator starts processing pa...

Dubai Bank’s liquidator starts processing payments

Dubai Bank chairman Hassan Zubeidi. Photo courtesy of www.businessdailyafrica.com

Dubai Bank chairman Hassan Zubeidi. Photo courtesy of www.businessdailyafrica.com

The Kenya Deposit Insurance Corporation (KDIC), the Liquidator of Dubai Bank Kenya Limited has began processing payment of protected deposits.

A statement from the Central Bank of Kenya stated that KDIC will from 7th September 2015 pay sh100,000.00 per account to all claims whose forms have been duly completed and returned to KDIC. Payment will be made through individuals’ bank accounts and/or M-pesa as provided by the claimant. Other deposit and creditor balances will be paid as and when funds become available from the liquidation.

KDIC has therefore requested Depositors of Dubai Bank Limited (IL) to collect claim forms and return them duly completed from the bank’s Head Office on Kenyatta Avenue, Nairobi and Central Bank of Kenya branches in Mombasa and Nakuru respectively during office working hours. The forms can also be downloaded from: www.depositinsurance.go.ke.

On 24th August, 2015, Central Bank of Kenya appointed KDIC as the Liquidator of Dubai Bank Kenya Limited in terms of Sections 53(2) and 54(1) (a) of the Kenya Deposit Insurance Corporation Act, 2012.


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