In the process of operationalising the DIPC, the Bank has already sent letters to banks to begin a process of onboarding after agreeing on an annual premium of 0.3 to 1.5 percent of insurable deposits with participating institutions. The Bank of Ghana, which is the Project Implementation Authority, will support the DIPC for 3 years to ensure sustainability.
The agreed payout in the event of bank failure and the revocation of licenses have been pegged at ¢ per customer for banks and ¢ per customer for Specialised Deposit-Taking Institutions. Consolidating the Gains 11.