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Module 1 · Topic 2KDIC's Mandate and Role
What Does KDIC Do?
KDIC's core mandate is set out in the Kenya Deposit Insurance Act, 2012. It has four main functions:
- Deposit Protection: Reimburse insured depositors up to KES 500,000 when a member institution fails
- Financial Stability: Contribute to the overall stability of Kenya's banking and financial system
- Resolution Authority: Act as liquidator and administrator for failed deposit-taking institutions
- Financial Literacy: Promote public awareness of deposit insurance and consumer financial rights
Vision and Mission
Vision: A reliable, effective deposit insurer and resolution authority.
Mission: To protect depositors and enhance public confidence in the financial system by promoting sound risk management and timely resolution.
KDIC is 100% government-owned and operates independently of the Central Bank of Kenya (CBK), though the two institutions work closely together in the supervision and resolution of member institutions.
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