Imperial Bank customers still worried over their money

Imperial Bank customers still worried over their money

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Panic continues to grip Imperial Bank customers as no official communication from the bank management has been issued regarding depositors accounts.

On Tuesday 13, October, the Central Bank of Kenya announced the decision to place the bank under receivership for a period of twelve months so as to protect the interests of depositors, creditors and the public.

The information circulated all over social media concerning the closure of the bank branches added more panic among the bank customers.

As of Wednesday morning, customers were still  going to the bank’s main branch in Mombasa only to find a notice on the gate informing  them that “the bank is temporarily closed until further notice.”

“I have been told by my friends that this morning  there will be a meeting here at the head office and so I rushed only to find the notice and the guards, as of now there has been no official communication and so we just rely on hearsay!” said one of the frustrated customers.

Other customers went even a notch higher to demand to be refunded their savings.

“I have been there customers for 3 years I got this information yesterday and it really shocked me and so  I came this morning to see whether I can  access my funds only to be told I can’t go in, if there is a problem let them give us our money we transfer it to another bank” said another one.

Capital Markets Authority has already directed the Nairobi Securities Exchange to suspend the introduction to listing and trading of the Corporate Bond issued by Imperial Bank, which closed on September 17.

“The board of directors of Imperial Bank Limited brought to the attention of the CBK inappropriate banking practices that warranted remedial action in order to safeguard the interest of both depositors and creditors,” the statement read.

The closure of Imperial bank comes after its counterpart Dubai Bank was also put under the management of the Kenya Deposits Insurance Corporation in September.

Imperial bank Limited has 9 branches in the coast region and 30 countrywide, making it feature among the bigger lenders in the region and thus causing such a great panic among it’s customers.

A list’ of other banks that are to undergo the same process has been going round in the social circles causing a lot of fear among the members of the public.

However, CBK has sought to assure members of the public that ‘Kenya’s banking sector remains safe and robust’.