Deposit Insurance Corporation
- Deposit Insurance Corporation
- Frederick Street
- Nassau / Paradise Island, Bahamas
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The Bahamasí Deposit Insurance Corporation (DIC) is a public corporation, established under the Protection of Depositors Act, 1999 (the Act). The DIC insures eligible deposits you make with our member institutions in case of their failure.
Pursuant to section 4 of the Act, which came into effect from 10th November 1999, membership in the Deposit Insurance Fund (the Fund) is compulsory for every licensed bank with Bahamian dollar deposits.
The DIC, which is financed by annual premiums levied on member institutions, has the power to:
levy, on the advice of The Central Bank of The Bahamas (the Bank), authorized contributions and premia on member institutions.
arrange for restructuring of a failed member, whether by merger with a financially sound member or otherwise; and accumulate, manage and invest surplus funds of the DIC.