Last Updated on November 24, 2023
Announcement for the submission of proof of debt claims by the international depositors that reside outside the United Republic of Tanzania (the “International Depositors”) of FBME Bank Ltd, under Liquidation (the “FBME”).
1. With the current announcement, Mr. Petros Ioannides who was appointed, as per order 373/2017 of the Nicosia District Court dated 29th June 2023, agent (the “DIB Agent”) of the Deposit Insurance Board of the United Republic of Tanzania (the “DIB”), the latter being the liquidator of FBME as appointed by the Bank of Tanzania on 8th May 2017, is glad to announce the commencement of the procedure for the submission of FBME’s International Depositors’ claims for their verification by the DIB Agent.
2. In accordance with the provisions of the Agency Agreement signed between the DIB and the DIB Agent on 1stNovember 2023, all International Depositors’ claims must be submitted for verification the latest by 29th December 2023, subject to any extensions to be provided by the DIB Agent following the consent of the DIB.
3. For identification purposes, all International Depositors are requested to complete the Client Identification Form(“CIF”) found at the Tanzania International Branch section of this website. The information inserted therein needs to be aligned with the documentation to be submitted for the verification of the claim as stated in paragraph 4 below. In case of any differences with the client’s information maintained in the systems of FBME, these need to be fully substantiated and explained by the supporting information provided. Under no circumstances, completion of the CIF shall be considered as a valid and conclusive submission of a claim and all International Depositors remain obliged under applicable law to deliver at the premises of FBME Cyprus Branch (the “Branch”), in Nicosia, all the documents requested in paragraph 4 below, in their original form.
4. On submitting their claims to the DIB Agent, the International Depositors need to submit the following:
4.1. A duly signed completed verification form found in the Forms section of this website.
- The verification form must be signed and the signature must be legalized or certified by the competent authority of the particular jurisdiction.
It should be noted that any costs borne by the DIB Agent confirming the validity and authenticity of the subject document, will be charged to the relevant account of the International Depositor.
4.2. All claims shall be submitted in the currencies on which the claims/deposits are outstanding and shall be converted by the DIB Agent in Tanzania Shillings in accordance with the applicable legislation in the United Republic of Tanzania, at the relevant rates set by the DIB on 8th May 2017, the date of the liquidation of FBME and which are as follows:
- USD 2236
- EUR 2397
- GBP 2860
4.3. The verification form shall be accompanied by the supporting documentation evidencing the amount being claimed.
4.4. International Depositors who wish to be represented by an authorized individual, must provide a duly signed, notarized and apostilled Power of Attorney (a suggested template acceptable by the DIB Agent can be found in the Documents section of this website.
4.5. Client identification documents (KYC documents) as set and described in detail in the Guidelines section of this website.
5. All the documentation as set in paragraph 4 above, must be delivered in its original form at the premises of the Branch, at 3 Agiou Prokopiou street, Engomi 2406, Nicosia, Cyprus, Monday-Friday between 9:00am – 12:00pm, excluding official Bank Holidays. Upon receipt, a written confirmation will be provided by a representative of the DIB Agent.
Important Note: No submission shall be deemed valid and conclusive unless all the documentation as described in point 4, in its original form, is submitted to the DIB Agent. The DIB Agent reserves the right to request additional information/documentation and the submission date shall be deemed as the day of receipt of all the documents requested by the DIB Agent.
6. In order for the DIB Agent to be able to reach a conclusive decision in relation to the subject debt pursuant to applicable law, the date of receipt of the verification claims shall be deemed as the day of receipt of all documents requested by the DIB Agent as per paragraph 5 above.
7. Pursuant to applicable law, and subject to the consent of the DIB, the DIB Agent shall accept or reject a claim, in whole or in part, or request further information/documentation in support of the claim. In the event that the DIB Agent rejects a claim, relevant explanations shall be provided.
The DIB Agent always acts as a representative of FBME and an agent of the DIB and does not bear any personal liability.