Frequently Asked Questions
- Which institutions depositors are insured by the DIC?
- What types of deposits are insured?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- In the event of a deposit transfer, how will a depositor know when and where he can withdraw his funds?
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.
