News & Events

Presentation at a two-day conference, hosted by the Development Bank of Jamaica and the Bank of Jamaica under the theme ‘A Call to Action: Driving Financial Inclusion with Digital Payments’. The conference focused on the benefits of Jamaicans participating in the digital economy and supports the Government’s thrust towards...

IADI Secretary General Mr David Walker; Executive Secretary of the Institute for the Protection of Bank Savings (IPAB), Mexico, Mr Raúl Castro, our kind host; President and Chief Executive Officer of the Canada Deposit Insurance Corporation and Chairperson of the Regional Committee of North America, Mrs Michèle Bourque;...

/corporate_plan The Jamaica Deposit Insurance Corporation (JDIC, the Corporation) will reach 20 years in operation in FY2018/19. During the four year planning period FY2018/19 – FY2021/22, the Corporation’s existing mandate for the protection of depositors under the Deposit Insurance Scheme, and for carrying out restructurings of nonviable member institutions as receiver and liquidator will be enhanced.
This will be within the context of significant regulatory reforms for financial system safety and soundness started from the prior period.

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.