DUSHANBE, March 28, 2018, Asia-Plus — To-date, assets of the Individual Deposit Insurance Fund have reportedly reached 126 million somoni.
“At the same time, the volume of insured individual deposits now amount to 2.6869 billion somoni,” a source at the Individual Deposit Insurance Fund told Asia-Plus in an interview.
In 2011, when the Fund was established, its assets amounted only to 24,256 somoni, the source noted.
Deposit insurance is a measure implemented to protect bank depositors, in full or in part, from losses caused by a bank”s inability to pay its debts when due. Deposit insurance systems are one component of a financial system safety net that promotes financial stability.
The source says the Fund’s assets are formed due to payments made by lending institutions put on the Fund’s list.
According to him, each of these lending institutions makes quarterly payment equal to 0.5 percent of its average individual deposit balance.
“Persons whose deposits do not exceed 7,000 somoni constitute 85 percent of depositors,” the source added.
48 lending institutions, including 12 banks and 38 microdeposit organizations, have reportedly been put on the list of the system of individual deposit insurance.
