Information on Deposits
Deposit Guarantee
Deposits placed with commercial banks of the Republic of Uzbekistan are protected by the state. Their repayment is guaranteed under the Law of the Republic of Uzbekistan "On Guarantees for the Protection of Deposits in Banks" (No. ZRU-1031 dated 18 February 2025).
Below is an overview of the key provisions of the Law, reflecting the current procedures and clarifications applicable to both individuals and legal entities.
1. Who is covered by the state guarantee?
The state deposit guarantee system applies to deposits of:
- individuals (citizens, including non-residents);
- individual entrepreneurs;
- legal entities.
2. Which deposits are subject to guarantee?
The following are considered guaranteed objects:
- funds under a bank deposit agreement or bank account agreement;
- funds held on separate accounts pending fulfillment of the agreement's conditions (including escrow arrangements);
- amounts certified by savings (deposit) certificates;
- accrued but unpaid interest as of the date of the insured event, provided the accrual is stipulated in the agreement or certificate.
3. Which Funds Are Not Considered Guaranteed Deposits?
The Law explicitly establishes a list of objects that are not subject to guarantee. These include, in particular:
- deposits of banks, non-bank credit institutions, insurance companies, leasing companies, investment, mutual funds, as well as other licensed financial organizations;
- funds of state bodies, state institutions, and state enterprises of the Republic of Uzbekistan or foreign states;
- deposits of persons affiliated with the bank (except for deposits of management board members and key personnel within the limits of three months' salary and equivalent payments);
- deposits placed in foreign branches or subsidiary banks;
- accumulations on individual pension savings accounts;
- funds whose origin has been judicially determined to derive from the legalization criminal proceeds, financing of terrorism, or proliferation of weapons of mass destruction.
- shares and other instruments included in the bank's regulatory capital;
- bonds, promissory notes, and other debt securities issued by the bank;
- subordinated obligations;
- funds held in individual bank safe deposit boxes;
- claims under derivative financial instruments (futures, forwards, options, swaps, etc.);
- funds and property transferred to the bank under trust management.
4. Amount of Guaranteed Compensation
Upon an insured event, the Deposit Guarantee Agency pays:
- 100% of the deposit amount if it does not exceed 200,000,000 (two hundred million) soum;
- a maximum of 200 million soum if the deposit amount exceeds this threshold.
Compensation of foreign-currency deposits is paid in the national currency of the Republic of Uzbekistan at the official Central Bank exchange rate as of the date of the insured event.
If the depositor has matured obligations to the bank with a due date that has arrived, the compensation is calculated as the difference between the guaranteed deposit amount and the outstanding debt for which the repayment term has arrived.
5. What Constitutes an Insured Event?
An insured event is deemed to occur upon the revocation by the Central Bank of the Republic of Uzbekistan of a bank's license to conduct banking operations, followed by its compulsory liquidation. It is from this date that the amount of compensation is calculated and the payout procedure is initiated.
6. Payout Timelines and Procedure
The Law provides for a phased reduction in the timeframes for commencing the repayment:
- 2025 — within 20 working days;
- from January 1, 2026 — within 15 working days;
- from January 1, 2027 — within 7 working days.
7. Procedure for Receiving Compensation
To receive the payout, the depositor submits to the agent bank:
- the bank deposit agreement and/or bank account agreement;
- an identity document.
8. Suspension or Refusal of Payment
Payment may be temporarily suspended in the following cases:
- there are doubts about the authenticity or reliability of submitted documents;
- there are discrepancies between the depositor's claim and the register data;
- funds are under arrest, frozen, or subject to operational restrictions;
- a court dispute concerning the deposit is ongoing.
- forged or falsified documents were submitted;
- a court decision establishes that the funds originate from criminal activities.
9. Additional Compensation
In certain cases, the Law provides for additional compensation, particularly for:
- deposits acquired by inheritance;
- deposits held within six months following the bank's reorganization by merger.
10. Transfer of Claim Rights to the Agency
From the date of the insured event, the depositor's right of claim against the liquidating bank, up to the guaranteed amount, transfers to the Deposit Guarantee Agency. The depositor retains the right to pursue any excess amount directly from the bank. The Agency bears no liability for amounts exceeding the guarantee limit.
Conclusion
The Law on Deposit Guarantees establishes a systematic framework for protecting bank customers and ensures repayments of funds up to the prescribed limit in the event of an insured event occurence. For individuals, it serves as an instrument of financial stability and protection of personal savings. For legal entities, it constitutes an element of risk management and additional legal safeguard when placing funds with banks.
The state guarantee of up to 200 million soum per depositor per bank represents a significant factor in building confidence in the banking system and contributes to its sustainable development.
For more detailed information on the Law, please refer to the following resources: the official website of the Central Bank of the Republic of Uzbekistan, the Central Bank's social media pages, finlit.uz, and the official website of the Deposit Insurance Agency.
Last updated: 27.01.2026