The Board is responsible for policy formulation which oversees the administration of the Deposit Protection Fund including the levying of contributions from contributory institutions and the payment of compensation to depositors in the event of insolvency of a contributory institution.
The Fund’s Board is committed to promoting depositor’s confidence in the banking system and to contributing to growth in stability and soundness in the financial sector. The Fund's Board works closely with the Bank Supervision Department of the Reserve Bank. In this regard, it supports bank exit procedures by giving the supervisor greater flexibility and freedom to let problem banks fail. In this regard, the DPC can be appointed as the liquidator or curator of an insolvent contributory institution in terms of section 37 of the Deposit Protection Corporation Act [Chapter 24:29] as read with section 57 of the Banking Act [Chapter 24:20].
The Board endeavours to review its procedures from time to time to ensure that they remain relevant and practical in a growing and complex financial system. The membership of the Fund is compulsory and includes all registered banking institutions and all building societies. The Fund derives its income from periodic contributions from its members, borrowings and investments.
The Board comprises of the following:
Dr S. Mahlahla
Mr. John Mafungei Chikura
CEO - DPC
Mrs M. Takavarasha
Dr Charity L. Dhliwayo
Mr C. Nyakabau
Mrs V. Nyemba
Our Vision >
To be the centre of excellence in deposit protection.
Our Mission Statement >
To protect depositors, enhance public confidence and stability in the financial system by promoting sound business practices.
Our Values >
Accountability | Fairness | Teaming | Integrity | Excellence | Transparency
Operating Hours: Monday-Friday (8:00am - 4:30pm, GMT +2) | Closed on weekends and public holidays.
e: email@example.com | a: Evelyn House, 26 Fife Ave/Cnr Blakiston St, Harare | t: +263 4 250900-1; 252336; 251040-44 | f: +263 4 252 337 |
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