The Liquidator is appointed when the Court makes the winding-up order.
Frequently Asked Questions
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- What is a Liquidator’s certificate?
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.
