The Kenya Deposit Insurance Corporation (KDIC) has announced the commencement of the third dividend payment to all eligible depositors and creditors of Dubai Bank Ltd (in liquidation) who have submitted and proved their claims.
In a statement issued on 13th February 2026 by John Masega Ombasa, the liquidation agent for Dubai Bank Ltd, the payments are part of Kenya’s ongoing liquidation process for Dubai Bank Ltd.
“NOTICE is hereby given that the Kenya Deposit Insurance Corporation, in exercise of the powers conferred under Sections 55 of the Kenya Deposit Insurance Act, 2012, will commence distribution of the 3rd dividend payment to all eligible depositors and creditors of Dubai Bank Ltd (In liquidation) who have proved their claims,” the issued notice read in part.
Dubai Bank Claim Submission and Verification
Depositors and creditors of Dubai Bank Ltd (in liquidation) are advised to collect, complete, and return account details forms from KDIC offices located on the 16th Floor, Old Mutual Tower, Upper Hill Road.
The offices are open from 8:00 am to 5:00 pm, Monday to Friday. Alternatively, the forms can be downloaded from the KDIC website: www.kdic.go.ke.
“All payments shall be made through Real Time Gross Settlement (RTGS) to those accounts,” the notice stated, ensuring that approved claimants receive their funds directly in their verified bank accounts.
Payment Validity and Process
Claimants were further reminded that the payment is valid for a period of one year from the date of commencement.
“Depositors and Creditors of Dubai Bank Ltd (In liquidation) are advised to collect, complete and return the account details forms in respect of their claims,” the notice added, stressing the need for claimants to comply with the process to receive payments.
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The third dividend follows previous distributions under the liquidation process, managed by KDIC in line with the Kenya Deposit Insurance Act, 2012, which provides KDIC with the mandate to secure depositor funds and facilitate payments during bank liquidations, protecting the interests of the banking public.
As per the notice, claimants are encouraged to submit their forms promptly to avoid delays in receiving payments.
KDIC maintained that all submissions will be processed in accordance with regulatory requirements, and payments will be executed via RTGS to ensure security and efficiency.
CBK liquidation of Dubai Bank Kenya
On August 14, 2025, the Central Bank of Kenya (CBK) appointed the Kenya Deposit Insurance Corporation (KDIC) as receiver for Dubai Bank Kenya Limited for a period of twelve months pursuant to the provisions of Sections 43(1), 43(2) and 53(1) of the Kenya Deposit Insurance Act, 2012.
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The appointment of KDIC as a receiver for Dubai Bank Kenya Limited was done by CBK in the interest of the bank’s depositors, creditors and members of the public.
On August 24, KDIC submitted a report to CBK recommending that Dubai Bank Kenya Limited be liquidated. The recommendation was premised on the review of Dubai Bank Kenya Limited by KDIC after appointment as receiver by CBK.
The KDIC report indicates that, given the magnitude of Dubai Bank Kenya Limited’s weaknesses, liquidation is the only feasible option.
Sections 53(2) and 54(1) (a) of the Kenya Deposit Insurance Act, 2012 require CBK to appoint the KDIC as liquidator of a bank, if KDIC, as receiver for a bank, recommends that it be liquidated.
“In light of the above, we have appointed the KDIC as liquidator of Dubai Bank Kenya Limited in terms of Sections 53(2) and 54(1)(a) of the Kenya Deposit Insurance Act, 2012,” said CBK in a statement.
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