The Liquidator is appointed when the Court makes the winding-up order.
Frequently Asked Questions
- What procedure does the DIC follow after an institution has been closed?
- When can an eligible depositor expect to receive his or her money?
- How does a depositor establish an insurance claim?
- If a depositor has more than $200,000 (the current insured limit) in a closed institution and is paid $200,000 by the DIC, what happens to the amount in excess of $200,000?
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.
