solution

Currently, the Namib Deposit System in funded ex poste but the government has decided to shift to collection of premiums on an ex ante basis. Two premium collection schemes are proposed based on a percentage collection on total deposits held by any bank enrolled in the scheme. The following banks are enrolled in the Namib Deposit Insurance scheme:

NAME OF BANK TOTAL DEPOSITS

African Bank for Savings 335,000,000,000Âµ

Namib National Bank 435,000,000,000Âµ

Peoples Savings Bank 517,500,000,000Âµ

Namib Islamic Bank 715,000,000,000Âµ

If annual premiums of .085% are collected from banks in the system, how much will be collected from each bank and how much in total at the end of the year?

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