Gibraltar Deposit Guarantee Scheme
Protecting depositors in the event of a Credit Institution authorised by the Gibraltar Financial Services Commission being unable to repay deposits.
Who & what is covered
Which deposits are covered by the Scheme?
Compensation information
Details of the process for compensation and the approach taken
Q&A for Depositors
Typical questions asked about the Scheme
WELCOME
Protecting depositors in the event of a Credit Institution authorised by the Gibraltar Financial Services Commission being unable to repay deposits.
The Gibraltar Deposit Guarantee Scheme (“GDGS”) protects depositors and pays compensation in the event of a Credit Institution authorised by the Gibraltar Financial Services Commission (“GFSC”) being unable to repay deposits. The Scheme does not regulate these licensed Credit Institutions - this is carried out by the GFSC.
The original Directive on Deposit Guarantee Schemes (“DGS”) was established in 1994 and was transposed into local legislation via the Deposit Guarantee Scheme Act, 1997. Although the financial arena saw significant changes subsequent to this, there were minimal amendments to the Scheme. Therefore, in July 2010, the European Commission proposed a comprehensive review of the DGS Directive.