Yes, these are treated as distinct from individually owned accounts and therefore insured separately.

No, however, they are entitled to participate in the payment of liquidation dividends.

This is paid as liquidation dividend after the liquidator has recovered sufficient funds from the sale of the institution's assets and recovery of debts.

It is a cover that safeguards depositors against loses they would otherwise incur if a bank or deposit taking institution closes its operations. Depositors are entitled to claim an amount of Ksh. 100,000 or less which is currently set for review.

17 institutions are currently under liquidation.

Yes, all depositors are paid regardless of their place of residence or nationality.

A joint account is considered as being distinct from individually owned accounts and is therefore insured separately.

Yes, these are different entities and they are treated separately for purposes of insurance.

The deposit insurance coverage is retained in the name of the new institution.

CBK appoints KDIC as the receiver and the corporation publishes a notice of the institution's failure and advises depositors on the claim procedures.

All accounts of each depositor in an institution are consolidated and paid up to the maximum insured sum of KShs. 100,000.00.

A deposit insurance Scheme is a financial guarantee that instills confidence and protects depositors in the event of a bank/deposit taking financial institution failure and to offer a measure of safety for the banking system.

All banks, financial institutions, mortgage finance companies (defined under the Banking Act), and deposit-taking microfinance institutions (defined under the Microfinance Act) licensed by the Central Bank of Kenya will automatically become members of the...

KDIC is a corporation established under the Kenya Deposit Insurance Act, 2012, which provides for the establishment of a deposit insurance scheme and a corporation to manage the scheme and to wind up failed deposit taking institutions, among other...

To promote public confidence and contribute to the stability of the Kenyan financial system.

All deposits in current accounts, savings accounts and time/fixed deposit accounts are insured.

KDIC is a state corporation managed by the Board of Directors which consists of: Non-executive chairperson appointed by the President on the recommendation of the Minister from amongst the members appointed under paragraph (d); The Permanent...

Any institution licensed by the Central Bank shall become a member of the Fund from the date it is granted the licence.The member institution pays the premium to the KDIC at no cost to the depositor.