Question-answer
01
Whose deposits are guaranteed by law?
In accordance with the Law «On guarantees of protection of citizens deposits in banks» the deposits of the citizens of the Republic of Uzbekistan, foreign citizens, and non-citizenship persons in the commercial banks of the Republic of Uzbekistan are guaranteed.
02
What deposits are not guaranteed?
In accordance with the law the following funds are not guaranteed:
in citizens’ deposits in banks for which by the legislation the special rule of guarantee is accepted;
transfer by citizens to banks in trust;
in the accounts of the bearer;
placed in accounts of individuals persons engage...
03
Are citizens’ deposits in all banks of Uzbekistan guaranteed?
The Fund guarantees citizens deposits in commercial banks (including their affiliates), made the written agreement with the Fund. Now all existing commercial banks in the country, except the People's Bank, which deposits are guaranteed by the government, have corresponding agreements with the Fund.
04
In what cases the Fund guarantees the compensation payment on citizen deposits?
The Fund guarantees the compensation payment of citizen deposits in banks in the event of withdrawal by the Central Bank of the Republic of Uzbekistan the commercial bank license for conducting banking transactions.
The guarantees of the compensation payment on citizens’ deposits in banks are no...
25.09
FBOKF started a new project aimed at improving the deposit payout system
FBOKF, with the support of the Korea Deposit Insurance Corporation (KDIC), greenlit a project to enhance the deposit payout process with a focus on IT. As a part of the project, FBOKF welcomed delegations of Korea IT Consulting (KITC), which provides consultancy services, and KDIC, which is providing technical assistance to KITC and FBOKF.
06.07
FBOKF attended annual meetings of EARC & ERC in Tbilisi, Georgia
FBOKF delegation led by Director Nodir Abbosov attended annual meetings of EARC & ERC and the International Conference held in Tbilisi, Georgia on July 4-6, 2024. The event focused on exploring bank resolution tools and future challenges for deposit insurers.
21.11
Fund in collaboration with the Central Bank organized a study visit to SDIF.
A joint delegation from the fund and the Central Bank led by the Deputy Chairman of the Central Bank/ Chairman of the Supervisory Board of the Fund visited the Savings Deposit Insurance Fund (SDIF) of Türkiye to exchange opinions and experience in the area of deposit insurance.
06.11
Fund visited KDIC
Specialists from the fund participated in the Global Training Program (GTP) in Seoul, South Korea. KDIC (Korea Deposit Insurance Corporation) organizes a training event every year on the areas related to deposit insurance and this year, they have invited specialists from the Fund of Guarantee Citizens’ Deposits in Banks to take part in the event as the bond between organizations grew stronger.
29.09
Fund attended the IADI AGM in Boston, USA
The delegation of the Fund of Guarantee Citizens' Deposits in Banks led by the Director of the fund Nodir Abbosov and Deputy Chairman of the Central Bank Abrorkhuja Turdaliev attended the Annual General Meeting of IADI on 24-29 September in Boston, USA. Fund also attended EARC and APRC meetings as well as the annual conference as a part of the AGM program.
30.06
Fund participated in the IADI EARC annual meeting in Ulaanbaatar, Mongolia.
In the period of 28-30 June, Delegates from the Fund of Guarantee Citiziens’ Deposits in Banks led by Director Nodir Abbosov participated in the 2023 IADI Eurasia Regional Committee Annual Meeting and International Workshop dedicated to the implementation of differential premium systems.
