Pakistan's Deposit Protection Corporation doubles guaranteed deposit amount to Rs1 million, effective Oct 1, 2024.

The Deposit Protection Corporation (DPC) of Pakistan has doubled the guaranteed amount for eligible depositors from Rs500,000 to Rs1 million, effective October 1, 2024. This change aims to protect the interests of depositors and boost confidence in the banking system, covering about 96% of eligible accounts. The deposit protection is free for depositors and becomes active only if a bank is declared failed by the State Bank of Pakistan.

October 01, 2024
6 Articles