Sarb calls for comment on framework for deposit insurance scheme

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South African Reserve Bank: sets out parameters for an “explicit and privately funded” system
Elske Photography

The South African Reserve Bank (Sarb) has issued a public consultation on the development of a deposit insurance scheme (DIS) to protect “less financially sophisticated” depositors from bank failure.

In the document, published on May 30, the central bank sets out the parameters for an “explicit and privately funded” system, with a specific focus on mandate, governance, membership and funding arrangements.

“By protecting the covered deposits in all banks, the deposit insurance scheme can

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