Deposit Protection is a system established to protect the deposits of eligible depositors up to a specified limit in the event of a bank being declared as a failed bank by State Bank of Pakistan (SBP).
Deposit Protection Corporation (DPC) is a subsidiary of State Bank of Pakistan (SBP) established under the Deposit Protection Corporation Act, 2016. The role of the Corporation is to provide a robust deposit protection mechanism to ensure payment of protected amount to the eligible depositors of a DPC member bank, in the event of it being declared as a failed bank by State Bank of Pakistan (SBP).
Presently, a protected amount of up to PKR 1,000,000/- per depositor per bank has been determined by DPC for the protection of eligible depositors.
Deposit Protection will provide prompt access to the guaranteed amount i.e. up to PKR 1,000,000/- to the eligible depositors of a bank declared as failed by State Bank of Pakistan.
Updated Web link to access the list of institute is required. Moreover, the list of member banks provided under this question needs to be updated.
Presently all scheduled banks operating in Pakistan are members of DPC. Following is the list of banks that are members of DPC. This list is also available at DPC’s website:
https://dpc.org.pk/Circulars/2024/UpdatedList-DPCMember%20Institutions.pdf
Yes, Nationality/ residential status of a depositor does not affect the eligibility of a depositor for Deposit Protection. However, the bank should be a member institution of DPC. This can be verified from the list of banks available in FAQ#5. The list of member banks is also available on the DPC website at https://dpc.org.pk/Circulars/2024/UpdatedList-DPCMember Institutions.pdf
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