Michelle Duncan, a 38-year-old vendor, strolled through the St William Grant Park in Kingston yesterday, a look of anticipation on her face.
Her stall is located relatively close to the park, but a friend informed her of a...
Did You Know?
With the establishment of the JDIC and the passing of the Deposit Insurance Act 1998, all depositors of a bank or other insured deposit-taking financial institution that fails will get back up to a maximum of $600,000.
In the past when a bank failed there was no guarantee as to how much the depositors of the failed institution would be refunded.
In light of the number of bank failures of the mid-nineties, the Government recognized the need for a formal system of deposit insurance.
The Jamaica Deposit Insurance Corporation (JDIC) is an independent statutory organization set up by the Government to protect depositors.