Kapitalbank provides information about the new amendments to the law on deposit protection guarantees for citizens

On February 18, 2025, the updated Law "On Deposit Protection Guarantees for Citizens in Banks" signed by the President of Uzbekistan came into effect. This law introduces new rules for reimbursing depositor funds in case of bank liquidation and applies to both individuals and entrepreneurs.

Key points to know:

1. General reimbursement procedure: The law applies to individuals and individual entrepreneurs. It does not apply to government organizations, financial companies, or funds that are officially recognized as "suspicious."
2. Compensation limit: In the event of bank liquidation, the compensation for each depositor will be limited to 200 million soums. It is important to note that this limit does not apply to deposits made before the law came into effect. If a deposit was extended or replenished after the law came into force, the new limit will apply to those amounts.
3. Summing up compensation across multiple banks: If a depositor holds deposits in several banks, the compensation will be cumulative. For example, if there are deposits in 15 banks, the maximum compensation amount will be 3 billion soums. However, for each deposit in one bank, the compensation will be limited to 200 million soums.
4. Additional protection for depositors' funds: In the case of bank reorganization (merger), there is the possibility of receiving additional compensation.
5. Accelerated compensation payment periods: In cases requiring compensation payouts, the process will be completed in the shortest possible time—within 20 days. By 2026, this process will become even more efficient, shortening to 15 days, and by 2027, it will be reduced to 7 days, ensuring quick and convenient access to funds for depositors.

When choosing a reliable bank, attention should be paid to the following key factors:

1. License and regulation
2. International ratings (Moody’s, S&P, Fitch)
3. Bank liquidity
4. Capital size
5. Bank reputation and history

For further information, you can contact the nearest Kapitalbank branch or call 1340, as well as visit the official bank website: www.kapitalbank.uz.