Frequently Asked Questions
- How does a depositor establish an insurance claim?
- Are any other cash liabilities of financial institutions covered?
- Does the borrower’s obligations to the institution continue after the institution is closed?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
Did You Know?
- Misconception: All financial institutions that take deposits are covered under the Deposit Insurance Fund - Fact: ONLY member institutions that are licensed under the Financial Institutions Act, 2008 are covered under the Deposit Insurance Fund. This legislation provides for the regulation of commercial banks and other institutions engaged in the business of banking and business of a financial nature.