Difference between revisions of "Deposit Protection Corporation"

(Created page with "The '''Deposit Protection Corporation''' (DPC) is an independent statutory body established under the Deposit Protection Corporation Act (Chapter 24:29) and began operations o...")
 
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==Contact==
 
==Contact==
 
Head Office (Harare): Evelyn House, 26 Fife Ave/Cnr Blakiston St, Harare
 
Head Office (Harare): Evelyn House, 26 Fife Ave/Cnr Blakiston St, Harare
 +
 
Tel: +263 242 250900-1, 252336, 251040-44
 
Tel: +263 242 250900-1, 252336, 251040-44
 +
 
Fax: +263 242 252 337
 
Fax: +263 242 252 337
 +
 
email: info@dpcorp.co.zw
 
email: info@dpcorp.co.zw
  
 
Regional Office (Bulawayo): 34 Lawley Road/Corner Leopold Takawira Avenue, Bulawayo
 
Regional Office (Bulawayo): 34 Lawley Road/Corner Leopold Takawira Avenue, Bulawayo
 +
 
Tel: +263 292 231817/8
 
Tel: +263 292 231817/8
 +
 
email: info@dpcorp.co.zw
 
email: info@dpcorp.co.zw
  
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Media Contact: Allen Musadziruma (Public Relations Manager)
 
Media Contact: Allen Musadziruma (Public Relations Manager)
 +
 
Tel: +263 242 250900-1 / 252336 / 251040-44 (Ext 2022)
 
Tel: +263 242 250900-1 / 252336 / 251040-44 (Ext 2022)
 +
 
Cell: +263 716 801 310
 
Cell: +263 716 801 310
Email: amusadziruma[at]dpcorp.co.zw
 
  
 +
Email: amusadziruma@dpcorp.co.zw
  
 
==Functions==
 
==Functions==

Revision as of 10:21, 30 July 2019

The Deposit Protection Corporation (DPC) is an independent statutory body established under the Deposit Protection Corporation Act (Chapter 24:29) and began operations on 1 July 2003. Deposit Protection is a system that protects all depositors, whether individuals or businesses, against loss of part or all of their eligible deposits in the event of failure of a contributory institution.


Contact

Head Office (Harare): Evelyn House, 26 Fife Ave/Cnr Blakiston St, Harare

Tel: +263 242 250900-1, 252336, 251040-44

Fax: +263 242 252 337

email: info@dpcorp.co.zw

Regional Office (Bulawayo): 34 Lawley Road/Corner Leopold Takawira Avenue, Bulawayo

Tel: +263 292 231817/8

email: info@dpcorp.co.zw

Toll Free Line: 0800 4345

Media Contact: Allen Musadziruma (Public Relations Manager)

Tel: +263 242 250900-1 / 252336 / 251040-44 (Ext 2022)

Cell: +263 716 801 310

Email: amusadziruma@dpcorp.co.zw

Functions

In line with international best practice, the Deposit Protection Corporation (DPC) aims at meeting a number of objectives which include the following;

  • Protection of depositors by providing compensation in the event of failure of a member institution.
  • Contributing to the stability of Zimbabwe's financial system.
  • Enhancing public confidence in the financial system by establishing a framework for the resolution of failing or failed member institutions.
  • Administering the Deposit Protection Fund.
  • Enhancing competition in the financial sector by creating a level playing field through guaranteeing depositor reimbursements for both big and small member institutions.


Board

The board, including the recently appointed new CEO (June 2019), follows:

Chief Executive Officer Vusilizwe Vuma Member: Dr K. Mlambo Member: Mrs V. Nyemba Member: Mrs J. J. Rusike


Executive Directors

Chief Executive Officer: Vusi Vuma Finance and Administration Director: Mike M. Chingosho Business Operations Director: Gift Chirozva


Events

A notable number of bank customers haven’t yet claimed $3.2million worth of compensation from The Deposit Protection Corporation (DPC). Lack of knowledge of such an arrangement and institution from the customer’s side is attributed to be the main reason why customers are not claiming their compensation, DPC public relations manager Allen Masadziruma said. [1]


Further Reading

[1] DPC Wesbsite [2] Deposit Protection Corporation Act [Chapter 24:29] [3] HH 374-18 DEPOSIT PROTECTION CORPORATION (In its capacity as the liquidator of Allied Bank Limited in liquidation) versus TREBO & KHAYS (PRIVATE) LTD and Ors

  1. Deposit Protection Corporation Stuck With $3.2 Million Unclaimed Money By Customers Of Failed Banks, TechZim”, Published: Fri 27 Apr 2018, Retrieved: 30 July 2019