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What is the Deposit Insurance Board (DIB)?

April 26, 2017deposit dib Insurance

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10 Posted

What is the Deposit Insurance Board (DIB)?

2 Answers

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Peter Paul Posted

The Deposit Insurance Board (DIB) is a body corporate whose establishment and existence have been provided for under section 37(i) of Banking and Financial Institutions Act, 2006 (BFIA). According to this legislation, DIB is responsible for policy formulation, management and control of the Deposit Insurance Fund (DIF) which exists by virtue of the provisions of section 36 (i) of BFIA, 2006.

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10 Posted

A. The Deposit Insurance Board is an Institution established under section No.24(1) of the Banking and Financial Institutions Act No.12 of 1991 for the purpose of providing policies for control and managing the Deposit Insurance Fund.