About DIC » Who We Are and What We Do

The Bahamas’ Deposit Insurance Corporation (DIC) is a public corporation, established under the Protection of Depositors Act, 1999, as amended by the Protection of Depositors (Amendment) Act, 2020 (the Act). The DIC insures eligible deposits you make with our member institutions in case of their failure.

Pursuant to section 4 of the Act, membership in the Deposit Insurance Fund (the Fund) is compulsory for every licensed bank and every registered co-operative credit union with Bahamian dollar deposits.

The DIC, which is financed by annual premiums levied on member institutions, has the power to:

The DIC is one of the twenty-five (25) founding members of the International Association of the Deposit Insurers (IADI). It is committed to the implementation of international best practices and standards and, as provided for under section 3 of the Act, is the Manager of the Fund.

What is Deposit Insurance?

In simple terms, deposit insurance provides peace of mind in the unlikely event your bank should experience difficulty and be forced to close. Read on for details on the who and what of the coverage we provide.

Is Your Bank or Credit Union A Member?

Need to know if your bank or credit union is a member of the program, and that your funds are insured? Our up-to-date list of member institutions will answer your questions.

Got Questions?

Visit our
Frequently Asked Questions
pages for the answers!