ABOUT US

Deposit Protection Corporation(DPC) is a wholly-owned subsidiary of the State Bank of Pakistan and established in wake of the DPC Act 2016. The corporation commenced its business with effect from June 01-2018.

Deposit Protection Corporation plays a key role in promoting financial stability by sustaining confidence in the banking system. The objective of DPC is to compensate the small and financially unsophisticated depositors to the extent of protected deposits in the unlikely event of a bank failure.

Deposit Protection Corporation is governed by an independent and professional board of directors under the Chairmanship of Deputy Governor of State Bank of Pakistan, while its affairs are administered by the Managing Director. The Federal Government nominates the Board of Directors in consultation with the State Bank of Pakistan.

All banks scheduled under subsection (2) of section 37 of the State Bank of Pakistan Act, 1956 (XXXIII of 1956), unless exempted or excluded by the Board, shall compulsorily be member institutions of the Corporation and liable to pay the prescribed premium. DPC collects premiums from member institutions as empowered by the DPC Act 2016 and managed the received funds separately for both Islamic and conventional premium.

DPC steps forwards in the unlikely event of bank failure as notified by the State Bank of Pakistan and compensate its depositors up to the amount as prescribed within 30 days after the notification after adopting the approved procedure of reimbursement.