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the event of forced liquidation of a member bank, - to maintain and publish a to-date register of member banks, - investment management, - to accumulate special reserve for payouts, - to select the agent bank for payouts, - to act as a party of temporary administration of a bank in conservatorship or in period of withdrawal of the licenses for banking operations, - to act as a party of the liquidation commission and the creditor committee as long as the claim of the Fund has been unsettled, and other civil functions.
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The scope of coverage are bank accounts of individuals and individual entrepreneurs of all types with resident banks in the
Republic of Kazakhstan in any currency. On the per-depositor-per-bank basis, the maximum deposit coverage limit for all deposits and bank accounts of individuals shall amount
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The strategic objectives are: - Sound corporate governance - Operational preparedness for bank failures - Enhanced public awareness of the
National deposit insurance system - Continuing professional development opportunities for staff. The key functions of the Fund are: - to reimburse depositors in
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In
Kazakhstan, membership in deposit insurance system is compulsory for those banks which hold license for cash transactions and opening and maintenance of bank accounts of individuals, except for Islamic banks;. As of August 2019, 26 out of total 28 banks are members of deposit insurance system.
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savings deposits in the national currency: 15 million tenge, other deposits in the national currency: 10 million tenge, deposits in any foreign currency: 5 million tenge (in equivalent, at the currency exchange rate established as of the date of the enactment of the court's decision on the
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Mission of KDIF is to maintain public confidence in
Kazakhstani financial system and its stability as one of the financial safety net organizations by insuring deposits of individuals and encouraging member banks to conduct their operations with prudence and responsibility.
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The governing laws and regulations are laws of the
Republic of Kazakhstan “On banks and banking activity” (1995) and Law of the Republic of Kazakhstan “On mandatory insurance of deposits placed with the second-tier banks of the Republic of Kazakhstan” (2006).
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system is to maintain stability of the financial system in the
Republic of Kazakhstan, including strengthening public confidence in the Kazakhstani banking system via reimbursing depositors in the event of a deposit insurance system member bank failure.
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member-bank's forced liquidation). Should a depositor have 2 or more deposits allocated with one and the same bank in both national and in foreign currency, this depositor shall be reimbursed in the total amount up to 15 million tenge.
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As of August 2019, there have been 7 cases of bank failures and reimbursing depositors in
Kazakhstan. Payouts to depositors of the banks has amounted to approximately 76 billion Kazakhstan tenge.
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103:(KDIF) is a non-profit organization that guarantees deposits of individuals (including individual entrepreneurs) and placed with second-tier banks of the Republic of
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Law of the
Republic of Kazakhstan "On Compulsory Insurance of Deposits Placed with Second-Tier Banks of the Republic of Kazakhstan (2006), Art 17-18
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Law of the
Republic of Kazakhstan "On Compulsory Insurance of Deposits Placed with Second-Tier Banks of the Republic of Kazakhstan (2006), Art 3
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134:- Compulsory membership for banks that hold licenses for cash transactions and opening and maintenance of bank accounts of individuals,
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In accordance with the
Deposit Insurance Law of 2006, the deposit insurance system has the following features:
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KDIF was established in 1999. The Sole Shareholder and the founding organization of the KDIF is
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136 Dostyk Avenue, "Pioneer-3" Business Center, 8 floor, Almaty 050051, Republic of Kazakhstan
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Law of the Republic of Kazakhstan "On Banks And Banking Activities" (1995), Art 61-1
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140:- Mitigation of risks associated with operations,
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323:Non-profit organizations based in Kazakhstan
160:Scope of Coverage and Maximum Coverage Limit
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283:National Bank of the Republic of Kazakhstan
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47:Headquarters
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221:2014-01-20
197:References
105:Kazakhstan
56:Key people
65:Services
83:Website
39:Founded
74:Parent
90:.kdif
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42:1999
92:.kz
88:www
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
