The Ghana Deposit Protection Scheme was established by the Ghana Deposit Protection Act, 2016, Act 931 as amended by the Ghana Deposit Protection (Amendment) Act, 2018, (Act 968). The scheme seeks to protect a small depositor from loss incurred by the depositor as a result of the occurrence of an insured event. The object of the scheme is to support the development of a safe, sound, efficient and stable market-based financial system in Ghana, by ensuring prompt payouts to insured depositors on the occurrence of an insured event.
Ghana's Deposit Protection Scheme was conceived based on feasibility studies conducted in the year 2012 and with collaboration between the Bank of Ghana and the Government of Ghana. Financial support and technical assistance was also provided by the German Government through KfW, a German state-owned development bank.
Ghana's Deposit Protection Scheme is a pay box and becomes operational by end of September 2019. Ghana's Deposit Protection Scheme has a two fund-structure; Fund A, from which reimbursements of depositors of banks shall be made, and Fund B, from which reimbursements of depositors of Specialized Deposit Taking Institutions shall be made.