Deposit-taking financial institutions regulated and supervised by the Bank of Jamaica are members of the Deposit Insurance Scheme. There are 8 Commercial Banks, 2 Building Societies, and 1 Merchant Bank. All member institutions are issued with a Policy of Deposit Insurance, as well as Certificates of Deposit Insurance which must be prominently displayed at all locations.

As Deposit Insurer, the JDIC works closely with the Bank of Jamaica (BOJ) in its role as Supervisor of banks and other deposit taking financial institutions. The Banking Services Act and related regulations provide a standardized legal framework for the operations of these institutions. The legal framework is further complemented by Standards of Best Practice issued by the BOJ to ensure that licensees are not only aware of the risks inherent in banking activities, but that these risks are managed prudently and in accordance with their fiduciary responsibilities to depositors.