Fact: A member institution licensed under the Financial Institutions Act, 2008 can only be “closed by or with the approval of The Central Bank of Trinidad and Tobago as a result of financial difficulties.”
Frequently Asked Questions
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
- Which institutions depositors are insured by the DIC?
- How does the closing of an institution affect interest accruing on a deposit?
Did You Know?
- Misconception: Mutual Funds are covered by Deposit Insurance. - Fact: Mutual funds, be they general or issued as a member’s proprietary funds, are NOT covered by deposit insurance.