BoZ guides on liquidated banks

KABANDA CHULU
Lusaka
BANK of Zambia (BoZ) says people who pledged title deeds as collateral to obtain loans from liquidated banks will only get back their certificates upon full payment of any outstanding debt obligations.
The banks in liquidation go as far back as 1995, with the most recent in 2016.
BoZ is currently managing eight banks in liquidation, which include First Merchant Bank Zambia Limited, African Commercial Bank Limited, and Commerce Bank Limited.
The rest are Union Bank Limited, Meridien BIAO Bank Limited, Credit Africa Bank, United Bank Limited, and Intermarket Banking Corporation Limited.
BoZ assistant director for communications Besnat Mwanza said the liquidation process of the said banks has been ongoing for some time due to the sensitive nature of the process…https://enews.daily-mail.co.zm/welcome/home