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Dept. Recovery Planning and Coordination Date 22/05/2017
File 170522 KDIC Preemptively expediting deposit insurance payment.pdf
Subject Preemptively Expediting Deposit Insurance Payment
  • In May 2017, the KDIC has finalized the consultation with 17 commercial banks on the establishment of IT
    system needed to fulfil the requirements posfor banks to maintain deitor information at all times. Once the
    system is put in place, banks will be required to maintain information needed to calculate the amount of
    insurance payment to each depositor at all times, enabling the KDIC to carry out reimbursement process within
    seven working days.

    Please find attached for details.
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