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Enhanced Deposit Insurance Scheme and Policy Owners Protection Scheme from 1 April
By The Boy who Procrastinates  •  April 1, 2019
This quote came from Senator Bernie Sanders when he introduced a bill to break up America's largest financial institutions in 2018. The rationale is that if a financial institution is too big to fail, it is too risky to allow it to exist as its failure would cause catastrophic risk to the economy. 

In order to ensure the stability of the banking system in Singapore, the Singapore Deposit Insurance Corporation (SDIC) was incorporated in 2006 to administer the Deposit Insurance Scheme and Policy Owners' Protection Scheme, as well as to manage the underlying funds.

Starting from today (1 April), depositors and insurance policy owners will be able to enjoy enhanced protection in the event that their financial institution fails. This article will address the overview of the 2 Schemes as well as the recent revision made. 



Deposit Insurance Scheme (DI Scheme) First launched in April 2006, the DI scheme is designed...
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By The Boy who Procrastinates
I am currently a 28-year-old working adult in Singapore and financial independence is one of the ultimate goals which I hope to achieve.
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