Deposit Guarantee at JSCB “Ipoteka-bank”
Funds placed in JSCB “Ipoteka-bank” are subject to the mandatory deposit guarantee system in accordance with the Law of the Republic of Uzbekistan “On Guarantees for Protection of Deposits in Banks” dated February 18, 2025.
The guarantee applies to deposits of individuals, individual entrepreneurs, and legal entities in both national and foreign currencies.
What is included in the guaranteed amount
The following are taken into account:
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balances under bank deposit and account agreements;
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funds held in special accounts until contractual conditions are fulfilled (including escrow accounts);
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amounts confirmed by savings or deposit certificates;
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accrued but unpaid interest, if предусмотрено договором.
Coverage limit
Compensation is paid per depositor per bank:
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100% if the amount does not exceed 200 million UZS;
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up to 200 million UZS if it exceeds this limit.
If a depositor has multiple accounts, the total compensation is calculated cumulatively and does not exceed the limit.
Foreign currency deposits are compensated in UZS at the Central Bank rate on the date of the guarantee event.
Not covered
The guarantee does not apply to:
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funds of financial institutions;
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government funds;
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deposits of related parties (except as defined by law);
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funds in foreign branches/subsidiaries;
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pension savings;
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funds of illegal origin confirmed by court.
What is not considered a deposit
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shares and regulatory capital instruments;
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bonds and promissory notes;
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subordinated debt;
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safe deposit box funds;
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derivatives (futures, forwards, options, swaps);
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trust-managed assets.
When compensation is paid
A guarantee event occurs when the Central Bank revokes the bank’s license.
Access to compensation is provided:
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within 20 working days (from 2025);
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within 15 working days (from 2026);
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within 7 working days (from 2027).
The right to claim compensation remains even if not claimed immediately.
Required documents
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deposit/account agreement;
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identity document.
Additional conditions
If the deposit is pledged, it may be used to settle obligations.
Upon the guarantee event, the depositor’s claim transfers to the Deposit Guarantee Agency within the guaranteed amount, while the depositor retains rights for any excess.
