What is a personal savings insurance system?

Personal savings insurance system - a set of measures to protect the rights and legitimate interests of depositors by paying insurance compensation to depositors in case of forced liquidation of a credit institution.
The purpose of the personal savings insurance system is to ensure the stability of the financial system of the Republic of Tajikistan, including maintaining public confidence in the banking system.
The issues of insurance of savings of individuals are regulated by the Law of the Republic of Tajikistan "On insurance of savings of individuals". To ensure the functioning of the personal savings insurance system, the Individual Savings Insurance Fund (hereinafter referred to as the Fund) operates; credit institutions.
The objectives of the Foundation are:

Protection of the rights and legitimate interests of depositors by paying insurance compensation;
Strengthening public confidence in the banking system of the Republic of Tajikistan.

Contacts:

Address: Republic of Tajikistan, 734025 c.Dushanbe, st.Mayakovsky 77/2
Website: www.idif.tj
Phone for inquiries: +992 44 600-32-45
Email: info@idif.tj

Level and coverage of insurance coverage by the Fund

Individuals' savings are insured automatically and does not require the conclusion of an insurance contract on the part of the depositor. The objects of insurance are savings of individuals in national and foreign currencies, which are confirmed by bank deposit agreements and (or) bank accounts of salary and pension payment cards and (or) savings books.

In the event of an insured event, the indemnity is not paid for the following savings of individuals:

Savings in relation to which the credit institution has a legal right to offset the debts of the depositors up to the amount of the depositor's debt; Deposited savings;

Criminal savings or savings seized by a court;

Savings, which the National Bank of Tajikistan concluded contributed to the deterioration of the financial position of the credit institution;

Savings of legally defined related (affiliated) persons of the credit institution, as well as of persons who were considered to be such during the last year before the liquidation of the credit institution;

Savings of partners of the audit firm who were engaged as auditors of the credit institution in the calendar year preceding the date of the insured event;

Savings of individuals owning more than five percent of the shares of a credit institution on a beneficial ownership basis;

Savings placed in foreign branches of a credit institution;

Savings for the amount of any outstanding debt of the depositor to the credit institution;

Savings of less than 10 somoni.

The amount of insurance compensation


An insured event is a forced liquidation of a credit institution by a court decision not on the grounds of bankruptcy or on the grounds of bankruptcy in accordance with the Law of the Republic of Tajikistan "On Liquidation of Credit Organizations", as a result of which there are obligations of the Savings Insurance Fund of individuals to pay the amount of insurance compensation to depositors of bankrupt credit organizations.
When an insured event occurs, in accordance with the Law, the amount of the insurance compensation for savings regardless of the number of accounts in one bank is:

- in national currency not more than 500 indicators for settlements or 30,000 somoni
- in foreign currency not more than 350 indicators for settlements or 21,000 somoni

Savings placed in the national currency are reimbursed in the national currency. Savings placed in foreign currency are reimbursed in the national currency at the official rate established by the National Bank of Tajikistan. Interest on savings are not reimbursed by the Fund. If the bank deposit agreement provides for capitalization of interest, the insurance compensation is paid on the total amount of the deposit balance.

Payment of insurance indemnity

After the occurrence of the insured event the Fund publishes an announcement in the media about the agent bank, the date, time, form and procedure of the insurance indemnity. The announcement is also placed at the entrance of the agent bank and the liquidated credit organization, as well as on the official website of the Fund www.idif.tj.
The Fund starts paying out the insurance compensation on deposits in the period not later than 14 calendar days from the date of occurrence of the insured event. Payments of insurance compensation to depositors are made through agent banks at the depositor's request, both in cash and by transferring money to an account in a credit institution specified by the depositor.
To receive the insurance compensation the depositor (applicant) must apply to the bank-agent within one year from the date of the insured event and submit the following documents:

Application in the prescribed form (the depositor will receive it from the agent bank);
Depositor's identity document;
Bank deposit agreement;
Power of attorney, if a legal representative acts on behalf of the depositor;

Information for depositors

1. Check the selected credit institution

Make sure that the credit institution where you are going to make a deposit is a member of the individual savings insurance system and has a certificate of membership in the Individual Savings Insurance Fund.

2. Check the details of the deposit agreement

Carefully check the accuracy of your name, passport data, telephone number and mailing address in the deposit agreement, always inform the credit institution about changes - this will allow you to find you among the depositors in the payment of insurance compensation without problems. Check with the credit institution about the insurance of your savings in the Savings Insurance Fund for individuals.

3. Keep in mind that if an insured event occurs, no refunds will be paid on the following savings:

Savings in relation to which the credit institution has a legal right to offset the debts of the depositors up to the amount of the depositor's debt; Deposited savings;

Criminal savings or savings seized by a court;

Savings, which the National Bank of Tajikistan concluded contributed to the deterioration of the financial position of the credit institution;

Savings of legally defined related (affiliated) persons of the credit institution, as well as of persons who were considered to be such during the last year before the liquidation of the credit institution;

Savings of partners of the audit firm who were engaged as auditors of the credit institution in the calendar year preceding the date of the insured event;

Savings of individuals owning more than five percent of the shares of a credit institution on a beneficial ownership basis;

Savings placed in foreign branches of a credit institution;

Savings for the amount of any outstanding debt of the depositor to the credit institution;

Savings of less than 10 somoni.

4. Don't worry and remember

Come for insurance at any time convenient for you - there is a year for that. If possible, do not rush to get insurance on the first day of payments - there may be queues. According to the depositor's application, the Fund may extend the term of the depositor's application for compensation in the following circumstances:

If the depositor suffers from a physical or mental disability and is unable to apply for compensation in a timely manner;

In emergency cases that did not allow the depositor to apply for reimbursement.

Deposit options

Ganj - Хафтаина

Deposit period 7 days

Interest rate on the deposit 7% per annum

Ганч - Мохона

Deposit period 7 days

Interest rate on the deposit 10% per annum

Certificate of MDO "Dushanbe City" about the membership of the Fund Certificate
Contacts
  • Address

    734018 Tajikistan Dushane Sohili 5

  • Work Schedule

    Weekdays: from 8:00 to 17:00

  • Helplines

    +992 44 630 99 99 Within TJ
    366 For calls from all over the world

  • Email

    info@dc.tj

Helplines of the National Bank of Tajikistan
  • (44)-600-15-20
    (44)-600-28-63

  • Email

    ALLOMUSHTARI@NBT.TJ