The Director General of Jordan Deposit Insurance Corporation (JODIC), Dr. Mohammed Al-Ja’fari, pointed out that the decision made by the Cabinet upon JODIC Board of Directors' recommendation to raise the coverage limit of the deposit insurance at member banks, will not entail an increase the premiums paid by member banks, as the premium rate will remain unchanged at 0.25% of the total deposits subject to the law. These deposits include all deposits denominated in Jordanian Dinar except government deposits, inter-bank deposits, and cash collaterals within the limits of the value of the extended facilities guaranteed by the said collaterals. Furthermore JODIC is currently studying the collection of premiums from banks to be on quarterly basis instead of on an annual basis. These premiums are treated as operating expenses with no charges incurred on depositors. The increase of the coverage limit from JD 10.000 to JD 50.000 will be effective as of January 1st, 2011.