Imperial Bank depositors lobby seeks talks with CBK
Imperial Bank depositors protest outside the lender's headquarters on Westlands Road, Nairobi. PHOTO | FILE
What you need to know:
Justice George Odunga on November 4 ordered the CBK to engage depositors, shareholders, bondholders and other stakeholders on the status of receivership.
A lobby group of Imperial Bank depositors has requested the Central Bank of Kenya (CBK) to hold talks with its members over possible payment of their savings and give regular status updates about the collapsed lender.
This follows a court ruling that ordered the regulator to keep all stakeholders in the loop.
The IBL Depositors Lobby Group says it is now awaiting the response from the banking sector regulator, adding that it could return to court if its request for roundtable discussions is not met.
“We have written to KDIC and all stakeholders and are awaiting a response,” the lobby group said in a letter addressed to the CBK and the Kenya Deposit Insurance Corporation, Imperial Bank’s receiver manager.
Justice George Odunga on November 4 ordered the CBK to engage depositors, shareholders, bondholders and other stakeholders on the status of receivership.
The judge also ordered the regulator not to take any steps towards liquidation of the collapsed lender before considering revival proposals from stakeholders.
The lobby group has also urged other depositors not to file more suits against the Central Bank with respect to Imperial Bank, arguing such cases will derail negotiations and further delay when savers can access their deposits.
“Should they not respond within a reasonable timeframe, we intend to go to the courts to request for an interpretation of Justice Odunga’s ruling,” the lobby group said.
PAYE Tax Calculator
Note: The results are not exact but very close to the actual.
