The Deposit Insurance Fund in Libya
The Depositors’ Funds Guarantee Fund works to enhance confidence in the banking sector by protecting depositors’ funds and guaranteeing their rights in accordance with applicable legislation. We strive to promote financial stability, provide the highest levels of transparency, and offer accurate and up-to-date information to the public and the financial institutions that are members of the Fund.
Annual Reports
View and download the annual reports, click on the following files:
FAQ
It is an independent institution that aims to protect the funds of depositors in member banks, and to promote confidence in the banking system, by guaranteeing compensation for depositors in the event of the failure or liquidation of any member bank.
The fund was established to protect the rights of depositors, maintain financial stability, and reduce the risks that may arise when banks fail.
- Current Accounts
- Savings Accounts
- Time Deposits
- Foreign currency deposits
- Funds deposited as collateral for loans or banking facilities
- Deposits of board members and executive managers of the troubled bank
FAQ
The fund relies on a tiered system in the process of guaranteeing depositors’ deposits, and these tiers are divided into five tiers, with the maximum guarantee being 250,000 Libyan dinars, which is represented in the fifth tier, according to the bylaws – Article No. 28.
The depositor can use the “Calculate your compensation immediately” tool available on the website, where the deposit amount is entered to automatically display the compensation amount, in accordance with the legal guarantee limits.
The compensation will be disbursed after an official decision is issued to liquidate the failing bank, and the procedures are completed within thirty days from the date of the liquidation decision.
This can be done via the electronic complaints form on the Contact Us page, or through the Fund’s official email info@dif.gov.ly, with a guarantee of confidentiality of information and privacy of the sender.
I am pleased to welcome you to the official website of the Depositors' Guarantee Fund, an institution that has been steadily and effectively fulfilling its duties since its establishment. It embodies our vision of being a cornerstone of financial stability in Libya, a bulwark protecting depositors' rights, and a source of confidence in the Libyan banking system. The Fund was established as a financially and administratively independent entity, operating within the framework of the laws and regulations governing the banking sector and in coordination with the Central Bank of Libya. Its mandate is to guarantee depositors' funds and compensate them in the event of the failure or liquidation of any member bank. This role stems from our unwavering commitment to protecting citizens' money and enhancing confidence in the banking sector. The Fund's operations are based on the principles of transparency and good governance, adhering to the highest standards of preparedness and efficiency in risk management. It is capable of fulfilling its obligations to depositors under various possible scenarios, within the legally established guarantee limits, thus ensuring fairness and protection for all depositors. The fund is moving steadily towards achieving its strategic goals by developing its internal systems, enhancing its technical and administrative capabilities, and adopting international best practices in risk management. It also seeks to raise the level of financial awareness among the public.
I am pleased to welcome you to the official website of the Depositors’ Guarantee Fund, an institution that has been steadily and effectively fulfilling its duties since its establishment. It embodies our vision of being a cornerstone of financial stability in Libya, a bulwark protecting depositors’ rights, and a source of confidence in the Libyan banking system. The Fund was established as a financially and administratively independent entity, operating within the framework of the laws and regulations governing the banking sector and in coordination with the Central Bank of Libya. Its mandate is to guarantee depositors’ funds and compensate them in the event of the failure or liquidation of any member bank. This role stems from our unwavering commitment to protecting citizens’ money and enhancing confidence in the banking sector. The Fund’s operations are based on the principles of transparency and good governance, adhering to the highest standards of preparedness and efficiency in risk management. It is capable of fulfilling its obligations to depositors under various possible scenarios, within the legally established guarantee limits, thus ensuring fairness and protection for all depositors. The fund is moving steadily towards achieving its strategic goals by developing its internal systems, enhancing its technical and administrative capabilities, and adopting international best practices in risk management. It also seeks to raise the level of financial awareness among the public.
I am pleased to welcome you to the official website of the Depositors’ Guarantee Fund, an institution that has been steadily and effectively fulfilling its duties since its establishment. It embodies our vision of being a cornerstone of financial stability in Libya, a bulwark protecting depositors’ rights, and a source of confidence in the Libyan banking system. The Fund was established as a financially and administratively independent entity, operating within the framework of the laws and regulations governing the banking sector and in coordination with the Central Bank of Libya. Its mandate is to guarantee depositors’ funds and compensate them in the event of the failure or liquidation of any member bank. This role stems from our unwavering commitment to protecting citizens’ money and enhancing confidence in the banking sector. The Fund’s operations are based on the principles of transparency and good governance, adhering to the highest standards of preparedness and efficiency in risk management. It is capable of fulfilling its obligations to depositors under various possible scenarios, within the legally established guarantee limits, thus ensuring fairness and protection for all depositors. The fund is moving steadily towards achieving its strategic goals by developing its internal systems, enhancing its technical and administrative capabilities, and adopting international best practices in risk management. It also seeks to raise the level of financial awareness among the public.
1. Commercial banks that are members of the Fund
2. Islamic banks that are members of the Fund
3. Banks under liquidation
Since its establishment, the fund has not witnessed any decision issued by the Central Bank to liquidate any of the banks operating in Libya.
