Mombasa High Court suspends Imperial Bank payment scheme

Mombasa High Court suspends Imperial Bank payment scheme

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Mombasa, KENYA: A Mombasa high court on Wednesday suspended the payment scheme adopted by Imperial bank to re- fund depositor’s money until a case pending in court is heard and determined.

This comes a day after a Mombasa businessman filed a suit against CBK and Imperial bank.

Ashok Doshi and Amit Doshi who are  alleged to  have deposited  1 billion shillings in a fixed deposit account, termed the payment scheme implied as an insult and unlawful.

According to payment scheme depositors were to be paid in monthly installments and the Adoshi family was to receive one million shillings per month in 83 years.

Mr. Francis Kadima representative lawyer asked the Imperial Bank management to ensure all depositors are paid before the bank is closed,he indicated that imperial bank was giving other banks their customers.

“In a press release after the bank was placed under receivership the managers said the bank had 40 billion shillings, why cant they pay my client only one billion?” he asked.

Kadima also asked the CBK governor to appoint independent receiver managers outside CBK.

READ ALSO: Mombasa businessman sues Central Bank and Imperial Bank over receivership

CBK Receiver manager and Imperial bank legal office have already been served with court documents.

This case will be heard on 5th in May before Mombasa high court justice Patrick Otieno.