5th Floor, Tom Adams Financial Centre, Spry Street, Bridgetown BB11000, Barbados
safety@bdic.org.bb
+1 246 435 2663
Mandate & Functions of the BDIC
BDIC（https://bdic.org.bb/site/index.php/en/about）
Mandate & Functions
The mandate of the Barbados Deposit Insurance Corporation, as stipulated by the Deposit Insurance Act 2006-29, is to:
Provide deposit insurance and contribute to the stability of the financial system for the benefit of depositors while minimising its exposure to loss.
Administer the Deposit Insurance Act.
Manage the Deposit Insurance Fund and related functions.
Provide deposit insurance against the loss of insured deposits, not exceeding the insured limit.
Promote standards of sound business and financial practices that contribute to financial stability.
Minimize the exposure of the Corporation to loss.
The main functions and powers of the Barbados Deposit Insurance Corporation per s. 6(1) of the DIA 2006-29 are to::
Manage the Deposit Insurance Fund to provide deposit insurance against loss of insured deposits up to the insured limit.
Levy contributions and premiums in relation to the fund.
Charge any fees necessary for the administration of the DIA.
Act as liquidator or manager of member institutions in accordance with the Act.
Facilitate the reorganization or takeover of a member institution pursuant to the Financial Institutions Act, in the appropriate circumstances; and
Carry out any other function which is necessary for the management of the Fund.
Contact Us
If you have any queries about deposit insurance or the BDIC please contact us.
safety@bdic.org.bb
+1 246 435 2663
BDIC
5th Floor, Tom Adams Financial Centre
Spry Street
Bridgetown BB11000
Barbados
West Indies
Home（https://bdic.org.bb/site/index.php/en/）
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