Palau's Attorney General says he thinks most locals who had accounts with the now insolvent Pacific Savings Bank will be able to get their money back.
Jeffrey Beattie is representing the receiver who stepped in when the Bank, estimated to be over 12 million US dollars in debt, had its license revoked by Palau's Financial Institutions Commission last month.
Pacific Savings Bank was the first locally owned bank in Palau and is believed to have more than 7-thousand customers and more than 20 million US dollars in deposits.
Mr Beattie says efforts are underway to source outside funds either from the Palauan government or elsewhere to protect the depositers.
"I don't think I would say that a lot of people will lose their savings. I think there are plans in the works where most deposietrs will get all their money out. But these things are just in the preliminary stages."
Jeffrey Beattie says a hearing is set for next month for the major owners of the Bank have the opportunity to contest the revocation of its license.