Securing sound deposit protection in East Africa
There is a need to revisit legal frameworks to adopt risk-adjusted premium regimes and establish more comprehensive deposit insurance systems in the East African Community, write Gilbert Nyatanyi and Gloria Tengera
Economic and financial crises have led to bank failures globally,1 highlighting the need for deposit insurance. But such schemes can prove to be controversial to develop due to their potential to encourage excessive risk-taking and moral hazard. While Rwanda has not experienced bank insolvencies, past collapses of microfinance institutions (MFIs) have left depositors without recourse.2 In response to this economic and financial hazard, most economies have added deposit insurance schemes to their
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