Account Closure & Data Deletion Policy

Effective Date: 19 February 2026

Bulsho Development Bank ("the Bank", "we", "our", or "us") is committed to transparency, regulatory compliance, and the protection of customer data. This Account Closure and Data Deletion Policy explains the procedures, conditions, and regulatory limitations applicable when a customer requests closure of their banking account and deletion of associated personal data.

1. Right to Request Account Closure

Customers may request the closure of their mobile banking or account relationship at any time, subject to applicable laws, regulatory requirements, and contractual obligations.

• Email: [email protected]
• Official Bank branch locations
• Designated in-app account management functionality (where available)
• Customer service hotline: +252770700020

2. Identity Verification

For security and fraud prevention purposes, the Bank will verify the identity of the requesting individual before processing any account closure or data deletion request.

3. Account Closure Process

• All outstanding balances must be settled.
• Pending transactions must be completed or resolved.
• Any contractual or regulatory obligations must be satisfied.

Upon completion, account access will be disabled and the customer relationship formally terminated.

4. Data Deletion and Retention

4.1 Data Subject to Deactivation or Removal

• Mobile application login credentials
• Biometric authentication data used for device access
• Marketing communication preferences

4.2 Regulatory Data Retention

As a regulated financial institution, Bulsho Development Bank is legally obligated to retain certain records for compliance, audit, anti-money laundering (AML), counter-terrorism financing (CTF), taxation, and fraud prevention purposes.

Such records may include:

• Know Your Customer (KYC) documentation
• Transaction histories and financial records
• Audit trails and system logs
• Regulatory reporting documentation

These records will be securely retained for a period of up to seven (7) years following account closure, or longer where required by applicable law or regulatory authority.

5. Processing Timeline

Verified requests will be processed within a reasonable timeframe, subject to internal compliance and regulatory review.

6. Limitations

• Ongoing investigations or disputes
• Legal or regulatory holds
• Fraud prevention requirements

7. Data Protection Safeguards

All retained information remains protected under the Bank’s Information Security Framework, including encryption, access controls, and regulatory security standards.

8. Contact Information