Chronicle Editor
Sikhulekelani Moyo, [email protected]
DEPOSIT Protection Corporation (DPC) has notified stakeholders that its Bulawayo office is temporarily closed, and set to reopen on Thursday.
The Deposit protection is a scheme established by the Government to protect depositors against the loss of their insured deposits placed with member institutions licensed to operate banking or finance businesses.
As an integral component of an effective financial safety net, a Deposit Protection Scheme enhances consumer protection by providing explicit protection to depositors.
Depositors will know when, how much, and how their deposits are protected in the event of a bank failure.
Deposit protection schemes contribute to financial stability and prevent bank runs if depositors have confidence that they will have access to their funds quickly when a bank fails.
On a notice on Facebook, DPC said: “Our Bulawayo office will be closed on Tuesday 23 January and Wednesday 24 January 2024.
“We will resume normal working hours on Thursday 25 January 2024. We apologise for any inconvenience.”
The corporation provided contact details where stakeholders can get in touch with them during the temporary closure and the details are on its social media platform.
@SikhulekelaniM1
Bongani Ndlovu
Online Reporter