‘Billions in deposits at closed banks not finding claimants’
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‘Billions in deposits at closed banks not finding claimants’
BILLIONS of shillings that were deposited with seven banks are yet to be claimed by clients about three to four years since the institutions were closed, authorities affirm.
Data from the Deposit Insurance Board (DIB), charged with protecting deposits in financial institutions, shows that out of 11bn/- in the hands of the liquidator, around 7.3bn/- has been claimed so far.
Richard Malisa, the Acting Director of DIB, made this observation in a meeting with stakeholders of banks and financial institutions here yesterday.