The Jamaica Deposit Insurance Corporation (JDIC/the Corporation) was established in 1998 pursuant to the Deposit Insurance Act with a mandate to protect depositors through the establishment and management of a Deposit Insurance Scheme (DIS), and in so doing promote confidence and stability in Jamaica’s financial system. Under the DIS depositors of commercial banks, building societies, and merchant banks are protected up to a prescribed amount for which they are reimbursed in case their insured financial institution fails or is unable to make payments on their deposits, that is the deposit insurance coverage limit.
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