Arab Bank Australia is covered by the Government Guarantee. What this means to you as a customer of Arab Bank Australia is that if you decide to place funds with the Bank your deposit up to $1,000,000 is automatically guaranteed by the Government.

On the 11^th of September, Deputy Prime Minister and Treasurer, the Hon. Wayne Swan announced that this government guarantee known as the Financial Claims Scheme will become permanent for amounts up to $250,000 per person, per institution, from the 1^st of February 2012.

Until the new scheme comes into effect, all previously existing term deposits will continue to be covered up to the original $1,000,000 mark for either their term until maturity or the 31^st of December 2012, whichever comes first. Similarly the former $1,000,000 guarantee limit will apply to term deposits that may rollover or commence between now and the commencement of the new formal scheme in February of 2012 at which time the amount covered will be $250,000.

Please review the below press releases for more information on the changes to the Financial Claims Scheme or contact one of our Senior Relationship Managers who will be happy to answer your questions.

Financial Claims Scheme- Press Release (11 September 2011)

List of Authorised Deposit-taking Institutions (ADI)