Guidelines

FBME BANK LTD, under Liquidation (the “FBME”)

Guidelines for the completion and submission of proof of debt claims and supportive documentation by the international depositors that reside outside the United Republic of Tanzania(the “International Depositors”) of FBME.

1. Client Identification Form

Online completion of the Client Identification Form (“CIF”) found at the Tanzania International Branch section of this website for identification purposes. All International Depositors must ensure that the information inserted therein needs to be aligned with the documentation to be submitted for the verification of the claim as stated in points 2.1. and 2.2. below. In case of any differences with the clients’ 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 claim and all International Depositors remain obliged under applicable law to deliver at the FBME Cyprus, Nicosia Branch (the “Branch”) premises all the documents requested in points 2.1. and 2.2 below, in their original form.

2. Required International Depositors’ identification documents:

2.1. For physical person, the following supporting documents must be   provided:

  • Certified* true copy of a valid passport;
  • Certified* true copy of a valid Identification Card (only in the event of Cyprus Citizens);
  • Original or certified* true copy of a utility bill bearing a date within 3 months of the date of the submission (mobile phone statements are not acceptable);
  • Curriculum vitae (CV) and economic profile;
  • Certified* Certificate of Tax Residence and Tax number;
  • Source of Funds in the accounts maintained by FBME and value of wealth;
  • IBAN certificate in the name of the International Depositor where payment shall be processed should the claim be accepted.

Any payment to be processed by the DIB Agent under a valid claim will be subject to all applicable laws, regulations, guidelines on a local and international level, including the United Republic of Tanzania level, that relate to, inclusively but not exhaustively, anti-money laundering procedures, sanctioning prohibitions, priority on payments etc.

2.2. For legal entity, the following supporting documentation must be provided:

  • Certificates of Registration, Directors, Secretary, Shareholders, change of name (if applicable), Registered Office and latest Memorandum and Articles of Association of the company that must be certified with recent date as true copies, by the person who under the applicable law is required to maintain the respective registers.

If the provision of the above documents is not applicable under relevant legislation, a declaration and/or statement and/or Incumbency Certificate and/or extract reflecting the most recent composition of the company, provided and/or signed by the relevant authority, that shall include all the above information and/or corresponding information under the applicable law;

  • Certificate of Tax Residency and Tax Number;
  • An updated business profile of the customer, including a brief historical background of the legal entity’s activities for the last 10 years;
  • Group structure signed by the controlling person of the legal entity;
  • Source of funds in the accounts maintained with FBME;
  • Curriculum vitae (CV) of the ultimate beneficial owner;
  • Beneficial Ownership Registry extract, where applicable;
  • IBAN certificate in the name of the International Depositor where payment shall be processed should the claim is accepted.

All the information requested in point 2.1. and 2.2. (as applicable) is also requested for each director, beneficial owner, registered shareholder and secretary. In the event that the director and/or registered shareholder is a legal entity, all documentation requested in point 2.2. must be provided up to reaching a physical person.

In the event that the intermediate ownership levels of the structure include a trust or foundation, a confirmation letter from the trustee or settlor or the founder/board of directors/foundation administration respectively must be provided, confirming all individual beneficial owners of the trust/foundation, regardless of percentage/ownership interest.

Any payment to be processed by the DIB Agent under a valid claim will be subject to all applicable laws, regulations, guidelines on a local and international level that relate to, inclusively but not exhaustively, anti-money laundering procedures, sanctioning prohibitions, priority on payments etc.

*Certification Requirement:

For countries that have signed the Convention of Hague, valid certification shall be deemed as apostille. If not applicable, certification in form and manner required by the relevant competent authorities in the resident country of the International Depositor, subject to discretional acceptance from the DIB Agent.

Changes to the information provided:

In the event of any changes to the information provided to the DIB Agent since the date of the initial submission of the proof of debt claim, all International Depositors are responsible to immediately inform the DIB Agent with any such changes submitting the relevant documentation at the premises of the Branch in order to be examined/reviewed by the DIB Agent.  These documents shall only be deemed as received by the DIB Agent upon the latter’s confirmation of receipt.

The DIB Agent shall bear no responsibility for any act and/or omission resulting from any changes which have not been communicated to him as per the above and any verification will be made in accordance with what has initially been received.

3. Power of Attorney:

International Depositors who wish to be represented by an authorized individual, must provide a duly signed, notarized and apostilled Power of Attorney (a proposed specimen acceptable by the DIB Agent can be found in the Documents section of this website.  In case of a different wording to be used, its acceptance or rejection and hence the need for re-submission shall be at the discretion of the DIB Agent.

The Power of Attorney needs to be issued and granted even if the individual that is authorized is one of the directors and/or the sole director of the particular International Depositor.

The contact details of the authorized individual must be provided to the Branch, through the CIF.

 4. Proof of Debt process:

4.1. A duly signed and completed verification form (Liquidation Proceeds Claim Form) is available on 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. The verification form shall be accompanied by supporting documentation evidencing the amount being claimed. The documentation can include a statement of account that can be provided by a representative of the DIB Agent upon request.

4.3. 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 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

4.4. International Depositors who have submitted either only the verification form or only the supporting documents or only part of the requested documentation, will need to submit the remaining required documentation, otherwise their claim shall be considered incomplete.

4.5. Proof of debt claims need to 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.

4.6. All the required original documents shall be delivered and be received at the offices of the Branch at 3 Ayiou Prokopiou street, 2406 Engomi, Nicosia, Cyprus, between Monday to Friday from 9:00am – 12:00pm, excluding official Bank Holidays. Upon receipt, a written confirmation will be provided by a representative of the DIB Agent.

4.7. The DIB Agent will primarily review the verification of claim form and all the required supporting documentation, in order to assess whether further information/documentation is required, in which case the International Depositor will be notified accordingly.

If all required documentation is in place, the claim will be examined. For either acceptance or rejection of the submitted and examined claim, relevant reasoning will be communicated by the DIB Agent to the International Depositor via electronic mail, to the email address provided.

The DIB Agent always acts as a representative of FBME and an agent of the DIB and does not bear any personal liability.

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