What is DIS?

What is DIS?
Deposit Insurance Systems is an institutional initiative to protect depositors against the loss of their deposits in the event that a scheduled bank goes into liquidation.

What are the objectives of Deposit Insurance Systems (DIS)?
The important objectives of DIS are:
Protect small depositors
Enhance public confidence
Enhance stability of the financial system
Increase savings and encourage economic growth
Enhancing more propitious bank services

When DIS was introduced in Bangladesh?
In Bangladesh Deposit Insurance was introduced in August, 1984.


Which banks are insured by the DIS?
All scheduled banks/commercial banks including the branches of foreign banks functioning in Bangladesh are insured by the DIS.

What does the DIS insure?
The DIS insures all deposits such as savings, fixed, current, recurring, etc. deposits except the following types of deposits:
1. Deposits of foreign Governments
2. Inter-bank deposits
3. Deposit from the Government of Peoples Republic of Bangladesh;
4. Any amount due on account depositors;
5. Any amount, which has been specifically exempted by the DIS with the previous approval of Bangladesh bank.

By Which law/Act the DIS is operated?
"Bank Amanat Bima Ain 2000 (The Bank Deposit Insurance Act, 2000)".

What is the basis of determining the premium of DIS?
As per "Bank Amanat Bima Ain 2000 (The Bank Deposit Insurance Act, 2000)", premium is determined on a half yearly basis, i.e. January-June and July-December sessions.