Last Updated on March 4, 2025
The appointed liquidator (the “Liquidator”) of FBME Bank Ltd (Cyprus Branch) (“the Branch”) and acting also as an agent (the “DIB Agent”) of the Deposit Insurance Board of the United Republic of Tanzania as the liquidator of FBME Bank Ltd in Tanzania (“the Bank”), with the present announcement would like to inform all creditors and depositors the following regarding the liquidation process.
- Verification of Debt Process for the Branch and Bank
Although the deadline for submitting claims has expired on 30 September 2024, for the Branch and the Tanzania International Branch, both under liquidation, the Liquidator and DIB Agent has allowed reasonable amount of time to depositors/creditors from foreign jurisdictions to proceed with the required actions to complete their claims. During this period, all claims submitted have been reviewed and relevant queries have been sent to the interested parties seeking further information or providing relevant clarifications.
For those claims that are being completed, relevant letters are sent to the authorized individuals pursuant to the Power of Attorneys submitted or to the creditors/depositors directly, if no authorized individual has been appointed. For those claims that have not been completed yet, the Liquidator/DIB Agent’s supporting teams liaise with the authorized individuals or the creditors/depositors directly, to collect all the required information to complete the claim process in an efficient and effective manner. For this purpose, the creditors/depositors are requested to proceed and submit as soon as possible any pending information to complete the assessment of their claims.
- Creditors’ Meeting for the Branch
Considering the progress achieved until today regarding the claims’ verification process, the Liquidator intends to convene a Creditors’ meeting in the near future and as such relevant notice will be issued soon informing the creditors/depositors accordingly. The primary objective of this meeting will be the set up of the Inspection Committee as per the provisions of the Liquidation Framework Agreement dated 12 December 2022 (“LFA”) and inform the creditors/depositors of the progress of the liquidation. For this reason, creditors/depositors are encouraged to complete their claims the soonest to be eligible to vote during the said meeting.
In the meantime, the liquidation process is progressing, and the Liquidator is in the process of collecting funds with the objective of recommending the first interim payment, after receiving the approval of the Inspection Committee to be set up.
For any enquiries regarding the above, please liaise directly with the Customer Service team at customer.service@fbme.com, which shall revert with the relevant answers.
The Liquidator is only acting in his capacity as representative (in the Republic of Cyprus) of the liquidator appointed in the United Republic of Tanzania of FBME Bank and as liquidator of the Branch located in the Republic of Cyprus and does not bear any personal liability regarding the content of this announcement.