“The Law on the Guarantees of Protection for Bank Deposits” (No. ЎRҚ-1031, February 18, 2025) has been adopted. The Ministry of Justice reported this.
The Law regulates the relations in the field of guaranteeing the deposits in banks of individuals, including individual entrepreneurs, as well as legal entities.
The Deposit Guarantee Agency is considered the authorized body in the field of guaranteeing the protection of deposits in banks.
The deposit guarantee system is a set of measures aimed at protecting the rights and legal interests of depositors by the Agency through compensations in the event of a guarantee case.
A bank, including a microfinance bank and an intermediary bank organized in accordance with the legislation, becomes a participant in the guarantee system from the time a license is granted.
The compensation payable to a single depositor in one bank consists of the following amounts:
- the full amount of the remaining guarantee object, if its amount is 200 million som or less;
- 200 million som, if the remaining balance of the guarantee object exceeds 200 million som.
The Agency is obliged to ensure that at least three-quarters of the depositors of a terminated bank have the opportunity to receive compensations within the following periods:
▪️From January 1, 2025 – within 20 working days from the date of the guarantee case;
▪️From January 1, 2026 – within 15 working days from the date of the guarantee case;
▪️From January 1, 2027 – within 7 working days from the date of the guarantee case.
This Law comes into force from the day of its official publication.
