The Minister of Finance, Hon. Colm Imbert, MP, wishes to advise that on August 28, 2024, he signed both the Central Bank (Deposit Insurance) Order, 2024 and the Central Bank (Deposit Insurance Coverage Limited) Order, 2024, which were both published on August 29, 2024 as Legal Notice Nos. 159 and 160 of 2024, respectively (see Orders attached).

Significantly, both Orders will take legal effect on October 1, 2024 and are based on careful consideration of funding reviews and assessments, international best practice and consultations with then Central Bank of Trinidad and Tobago and financial sector stakeholders. This adjustment is considered to be in the public interest and is intended to provide a further level of protection for persons who deposit their savings in financial institutions.