Scope:To provide internal auditing services for the period April 1, 2014 to March 31, 2019
NCC Category: N/A
Procurement Method: Local Competitive Bidding
Collection Date: Starting Monday, January 27, 2014 between...
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.