Bank of China Kazakhstan - System of obligatory insurance of deposits

System of obligatory insurance of deposits

JSC AB «Bank of China Kazakhstan» is the participant of system of obligatory insurance  deposits based on the Certificate No. 029 from June 13, 2005.

System of obligatory insurance deposits is regulated by  Act of the Republic of Kazakhstan from July 07, 2006 of No. 169 « On the Obligatory Insurance of Deposits Placed in the Second Tier Banks of the Republic of Kazakhstan». For these purposes the organization performing obligatory insurance deposits – JSC Kazakhstan deposit insurance fund was created - the non-profit organization created in 1999 to protect depositors' interests by insuring bank deposits and reimbursing losses occurred in case of the Deposit Insurance System member bank forcible liquidation.

According to Act of  the Republic of Kazakhstan «About modification and additions in some legal acts of the Republic of Kazakhstan concerning banking regulation and the financial organizations regarding risk minimization» since January 1, 2012 the maximum warranty compensation on deposits of physical persons remains in the amount of five million tenge. All money of physical person or the individual entrepreneur in bank are subject to insurance.

The additional information on insurance deposits you can get at specialists of  Kazakhstan deposit insurance fund by telephone «hot lines»: 8 800 080 1020 (calls from landline phones across Kazakhstan free).


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