Rights of Depositors
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Rights of Depositors
In accordance with the Law of the Kyrgyz Republic “On Protection of Bank Deposits,” a depositor has the rights provided by the deposit protection system.
Right to Receive Compensation
In the event of a guaranteed case, the depositor has the right to receive compensation in accordance with the procedure established by law. The maximum compensation amount is up to 1,000,000 KGS.
Right to Receive Information
A depositor has the right to receive information about the deposit protection system free of charge from official sources of the bank, microfinance company, or the Agency.
Separate Compensation for Each Institution
If a depositor’s funds are placed in several institutions participating in the deposit protection system, compensation is paid separately for each institution.
Right to Request an Appeal and Clarification
A depositor has the right to request clarification regarding the compensation payment procedure, the list of required documents, and the application submission process.
Short Checklist for Depositors
- Keep the deposit agreement and all related documents;
- Make sure the financial institution participates in the deposit protection system;
- Verify and keep up-to-date contact information;
- Monitor official announcements regarding the occurrence of a guaranteed event;
- Submit the required documents for compensation in a timely manner.