The official launch of the Deposit Insurance Corporation (DIC) is slated for October 10, 2024, at the Bingu International Conference Centre (BICC) in Lilongwe, Malawi.
This milestone event follows the establishment of the DIC in 2022 and its operationalization last year on October 1.
Speaking at a media workshop in Blantyre, DIC General Director Chitani Chigumula emphasized the corporation’s pivotal role in bolstering financial sector stability.
“DIC was established to protect depositors against any losses which may likely occur when a bank is unable to meet its obligations and is thus disbanded,” Chigumula stated.
The DIC aims to instill depositors confidence, encouraging individuals to keep their money in banks.
Chigumula noted, “The corporation will bring stability in the banking systems once it is operationalized.”
Business journalists from the Southern Region Press Club (SRPC) and the Association of Business Journalists (ABJ) attended the workshop, which aimed to educate participants on the corporation’s functions ahead of its launch.
