Authorized Institutions are corporations which are authorized under the Financial Institutions Act Cap.254, International Banking Act Cap.280, and Insurance Act Cap.54. ADIs include banks and credit institutions. All ADIs are subject to the same Prudential Standards, but the use of the name 'bank' is subject to corporations meeting certain criteria.
There are three (3) main types of Financial Institutions:
Deposit Taking Institutions |
Other Financial Institutions |
Insurance Companies and Intermediaries |