Frequently Asked Questions
- Are any other cash liabilities of financial institutions covered?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- When is the Liquidator appointed?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same 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.
