Frequently Asked Questions
- When is the Liquidator appointed?
- In the event of a deposit transfer, how will a depositor know when and where he can withdraw his funds?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
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.
