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Reserve Bank launches the Corporation for Deposit Insurance

# The South African Reserve Bank is launching the Corporation for Deposit Insurance in Johannesburg. Codi, a subsidiary of the Reserve Bank, is integral to the nation’s financial safety net. It aims to safeguard bank depositors, bolstering confidence and stability in the financial sector. Codi will administer a newly established deposit insurance scheme, offering up to 100-thousand-rand cover for qualifying depositors with eligible products in the event of a bank failure.