Ghana Deposit Protection Corporation
The Ghana Deposit Protection Corporation was established by the Ghana Deposit Protection Act, 2016 (Act 931) which was enacted on the 11th of October 2016. The Act applies to Banks and Specialised Deposit –Taking Institutions licensed by the Bank of Ghana. The Act provides the framework for the establishment of the Deposit Protection Scheme, the Deposit Protection Fund, and the Deposit Protection Corporation. The object of the Act is to:
- Protect small depositors from loss incurred by depositors as a result of the occurrence of an insured event;
- Support the development of a safe, sound, efficient and a stable market-based financial system in Ghana.
To be a reliable and efficient Deposit Protection Scheme that is responsive to the needs of the Depositor.
To build and sustain confidence in the banking system by ensuring protection and making prompt payment to the depositor