FDIC for Dominican Bank Deposits

[J NewBeginning]

Hello - I am an American planning to open an account with a bank in the DR. I want to know if my deposits are "FDIC Insured" as we have in U.S. banks.

Is there a similar type of deposit insurance offered by Dominican bankS? If so,

Up to what amount?

Is it offered for both D.R. pesos and U.S. dollars?

What is the name of this insurance in the DR?

Where can I read more about it?

[Robert]

No they are not insured. Although, I believe the Government do cover you in the event of a bank collapse, no idea of the amount. Then again, I wouldn't hold your breath on getting paid if it comes to that.

[J NewBeginning]

Well, atleast I know where to keep the majority of my funds.

Thanks for your reply.