CBZ Custodial Services which is a division embedded within CBZ Bank is regulated by the Securities Exchange Commission of Zimbabwe (SECZ) and was established in terms of the Securities Act (Chapter 24:25). The division is located at Ground Floor Fanum House, 57 Samora Machel Avenue, Harare. CBZ Custodial Services offers a wide range of services to institutions and individuals trading on the Zimbabwe Stock Exchange (ZSE) and on the Money Market.
Our client base includes;
- Pension Funds
- Private Investors
- Unit Trust
- Insurance and Assurance Companies
- Asset Managers
- Corporate Investors
- Safekeeping of Investors Assets
- Registration of Securities
- Trade Processing and Settlement
- Corporate Actions
- Income Collection
- Proxy Voting Services
- Independent Reconciliatory Role
- Monitoring and Reporting
- Client Reporting
- Dematerialisation of Securities
Safekeeping of Investors Assets
CBZ Custodial Services provides safe custody of electronic and physical instruments on behalf of investors such as, bonds, share certificates, title deeds, educational certificates, wills and any other high valued documents as required by our clients. Equities are dematerialised into electronic securities and deposited at Central Securities Depository (CSD) unless client specifically requests to maintain his/her shares in physical form.
Registration of Securities
CBZ Custodial Services ensures the beneficial owner model is adopted in accordance with the new SECZ regulations by ensuring legal registration of securities in the name of the investors after receiving instructions from the Asset Managers and clients
Trade Processing and Settlement
CBZ Custodial Services settles all trade transactions for clients upon receipt of instructions from investors and processing takes place in a secure and conducive environment. Pre-matching, confirmation and due diligence with the parties in the investment cycle are vital components of our settlement process.
CBZ Custodial Services will on behalf of its clients promptly collect dividends on equity securities, interest on bonds and cash equivalent.
Proxy Voting Service
CBZ Custodial Services will on behalf of our Investors provide proxy voting services for all listed companies on the stock exchange.
Independent Reconciliatory Role
CBZ Custodial Services provides an independent reconciliatory role to clients. Reconciliations of investors’ portfolio are done on daily / weekly / monthly on behalf of the client and also upon request by clients.
Compliance Monitoring and Reporting
CBZ Custodial Services ensures compliance of the funds with the statutes that govern the operation of the funds under its custody. The existing CBZ group structures ensure that Custodial Services operations are compliant with the relevant statutes. Our investors are furnished with regular updates on the compliance status of their funds.
CBZ Custodial Services provides comprehensive reporting as per the investors’ needs. The following are examples of the reports which customers can request from the unit:
- DEPO-X CSD Holding Statement
- Monthly statement of securities transactions
- Month-end valuation reports
- Annual valuation client portfolio reports
- Quarterly or bi-annual trustee’s meetings
- Quarterly newsletter
- Any other reports as requested by the client