About DIB

Deposit Insurance Board – DIB

Deposit Insurance Board (DIB) existence is provided for under section 37(1) of the Banking and Financial Institutions Act (BFIA) 2006. The Board is responsible for policy formulation, management, and control of a Deposit Insurance Fund.

  • Objectives

    • To provide insurance against the loss of part or all of the deposits in ​ member institutions
    • To promote and otherwise contribute to the stability of the financial system in Tanzania.

  • Mandate

    The Legal and Regulatory framework of the Deposit Insurance system in the country is governed by the provision contained in part VII section 36 through 42 of the Banking and Financial Institutions Act No. 5 of 2006 (BFIA, 2006).

  • History of Deposit Insurance

    Deposit Insurance was first introduced in the United States in 1933 following the Great Depression. Deposit Insurance has since been established in more than 100 countries, including Nigeria, Kenya, Zimbabwe, United Kingdom, Canada, France, Japan, the Philippines, South Korea and Taiwan