Frequently Asked Questions
- What procedure does the DIC follow after an institution has been closed?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- How does a depositor establish an insurance claim?
- Does deposit insurance protect the interests of creditors other than depositors of a failed 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.
