According to the Law of the Republic of Tajikistan “On Deposit and Savings Insurance”, the capital of the Deposit and Savings Insurance Fund of Tajikistan (the Fund) is formed from several sources and managed in accordance with the principles of safety, liquidity, and profitability.
Fund Resources
The Fund’s resources come from:
- Contributions from credit institutions that are members of the Fund.
- Income from investments.
- Borrowed funds, including those borrowed from the Government of the Republic of Tajikistan.
- Funds received from fulfilling the Fund’s obligations, including payments to depositors whose interests have been transferred to the Fund under the Law.
- Other receipts that are not prohibited by law.
The Fund’s resources are kept in accounts at the National Bank of Tajikistan. In the event of an insurance case, insurance compensation is paid to depositors from these funds. The maximum amount of the Fund’s resources, i.e. Fund’s target ratio is set at seven percent of the total amount of insured deposits and savings held in member credit institutions.
Investment Activity
To accumulate its assets, the Fund conducts investment activities and allocates its resources according to its investment policy. The Fund may invest in:
- Government securities of the Republic of Tajikistan.
- Securities of the National Bank of Tajikistan.
- Securities of foreign governments or central banks with a high investment rating.
- Deposits at the National Bank of Tajikistan in national and foreign currencies.
- Securities of international financial organizations with one of the two highest ratings from rating agencies.
- Securities of international financial organizations in which the Government of the Republic of Tajikistan is a shareholder.
The Fund prioritizes investments based on the following principles: