Which Deposits Are Protected
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Which Deposits Are Protected
The deposit protection system ensures the protection of deposits in accordance with the legislation of the Kyrgyz Republic.
Protection applies to deposits opened in banks, microfinance companies, and housing savings credit companies participating in the deposit protection system.
Protected Deposits
In accordance with the law, the following deposits are protected:
- deposits of individuals (citizens);
- deposits and funds held in the accounts of individual entrepreneurs;
- deposits in national and foreign currencies;
- term deposits and demand accounts.
Maximum Compensation Amount
In the event of a guaranteed case, the maximum compensation payable to a depositor is up to 1,000,000 KGS.
Compensation Payment Procedure
When a guaranteed case occurs, compensation payments are made by the Agency in accordance with the procedure and timeframes established by law.
Deposits Not Subject to Protection
In certain cases, the following deposits are not protected:
- deposits of legal entities;
- deposits belonging to bank insiders and affiliated persons;
- deposits related to members of bank management bodies and other cases provided for by law.