DUSHANBE, Tajikistan, July 6. Amendments to the Law on Deposit Insurance for Individuals have come into effect in Tajikistan, which entail an increase in the amount of insurance compensation for bank deposits and savings in credit institutions, Trend reports.
According to the amendments, the compensation amount for deposits and savings is now set at 35,000 somoni ($3,200).
Prior to the implementation of these amendments, the compensation amount in the national currency was limited to no more 34,000 somoni ($3,099), and in foreign currency, it was limited to no more t23,800 somoni ($ 2,169).
Furthermore, the list of mandatory insurance objects in the country has been expanded. Now, deposits and savings accounts of individual entrepreneurs, legal entities, small business entities, and non-profit organizations are also insured. Previously, only savings of individuals were insured.
In connection with these changes, the Law on Deposit Insurance for Individuals has been renamed to the Law on Deposit and Savings Insurance, and the Deposit Insurance and Savings Fund for Individuals has been renamed the Deposit and Savings Insurance Fund of Tajikistan.
According to the National Bank of Tajikistan, currently, five banks are in the liquidation process: Agroinvestbank, Tojiksodirotbank, TajPrombank, Fonobank (all being liquidated based on bankruptcy proceedings), and Kafolat Bank (liquidated not based on bankruptcy).
Compensation from the Deposit Insurance and Savings Fund for Individuals has already been paid to depositors of all these banks.