Deposit Protection Fund
The Deposit Protection Fund is an institution specialized for deposit insurance and established in line with the Deposit Protection Law.
The Fund shall be governed by the Managing Board.
The Managing Board shall have five members.
Members of the Managing Board shall be appointed by the President of Montenegro, provided that one member shall be nominated by the Ministry of Finance , one member shall be nominated by the Central Bank, one member shall be nominated by the Association of Montenegrin Banks, one member shall be nominated by the Chamber of Economy, and one member shall be nominated by the President of Montenegro.
The Chairman of the Managing Board is designated in the decision on the appointment of the Managing Board members.
The Managing Board is authorized, inter alia, to decide on the conditions, manner and procedure of the guaranteed deposits payout, as well as to establish the Fund’s investment policy that will ensure the Fund’s soundness and liquidity.
The Fund is managed by the Director . Powers and responsibilities of the Directora are defined in the Deposit Protection Law and the Fund’s By-law.
The Deposit Protection Fund’s registered office is in Podgorica, Miljana Vukova bb Street.