English

The Deposit Protection Agency performs the following functions:

• maintain the Registers of participating banks, microfinance companies, and housing savings credit companies
• keeps records of depositors’ claims, amounts payable, and sums of paid deposit compensations;
• payout to depositors who fall within the scope of the Law up to the amount specified in this Law;
• calculate the size of contributions and collect contributions to the Deposit Protection Fund;
• carry out necessary actions aimed at ensuring timely and full payment of contributions;
• establish and impose fines and penalties for untimely payment of contributions;
• manage the assets of the Deposit Protection Fund in the order and within the limits established in the Law “On Protection of Bank Deposits”;
• interact with state bodies and other organizations;
• select the agent bank to ensure payout compensations to depositors;
• ensures repayment of compensations paid from liquidated banks, microfinance companies, and housing savings credit companies to the deposit protection fund under the Law “On Protection of Bank Deposits”;
• execute activities to raise public awareness about the deposit protection system;
• acts as a liquidator of banks and financial and credit organizations in accordance with the procedure established by law;
• considers applications of problem borrowers of banks and other financial and credit institutions licensed by the National Bank in accordance with the procedure determined by the Cabinet of Ministers;