Online Reporter
Business Reporter
THE Deposit Protection Corporation (DPC) has issued a public notice urging individuals and institutions to surrender and collect crucial security documents lodged with five failed Zimbabwean banking institutions.
The notice marks a key step in the long-running resolution and liquidation process for the affected institutions, some of which ceased operations years ago.
The DPC is calling upon depositors to retrieve securities from AfrAsia Bank Limited, Royal Bank Zimbabwe Limited,
Trust Banking Corporation, Interfin Bank Limited, and Allied Bank Limited.
The DPC specified that the documents to be collected include, but are not limited to, highly valuable collateral papers such as Mortgage Bonds, Title Deeds, Notarial Bonds, and Notarial General Covering Bonds (NGCBs).
The documents were initially held by the banks as security against loans or for safekeeping. Their retrieval is necessary for the former clients to fully settle their affairs related to the collapsed banks.
Peter Tanyanyiwa