Procedure for Reimbursing Depositors
After an insured event occurs, the Fund publishes an announcement in the media about the date, time, method, and process for receiving insurance compensation.
The announcement is also displayed at the entrance of the Fund’s building, as well as at the locations of the agent bank and the dissolved credit institution. It is also available on the official website of the Fund. According to current legislation, the maximum amount of insurance compensation is limited to 35,000 somoni. Additionally, if a depositor holds two or more savings accounts at a bank, these accounts will be treated as a single account. As a result, the compensation received will not exceed the legally established limit for insurance compensation.
The remaining savings will be paid out during the liquidation process by a special administrator, known as the liquidator, for the credit institution, following the procedure established by law. The Fund will start compensating for insured deposits and savings within a maximum of 14 calendar days from the date of the insured event.
Insurance compensation payments to depositors are processed through agent banks based on the depositor’s application. These payments can be made in cash or through a bank transfer to an account specified by the depositor at a credit institution. Compensation is paid in the national currency, somoni. For deposits and savings in foreign currency, reimbursement will be made in somoni at the official exchange rate of the National Bank of Tajikistan on the day the insured event occurs.
The process for receiving insurance compensation is straightforward. To obtain the insurance compensation, the depositor (applicant) or their representative must contact the agent bank and provide the following documents:
- An application for payment of insurance compensation in the prescribed form. A copy of this application can be obtained and filled out at the agent bank, which usually provides a completed electronic application form for the depositor’s signature.
- A valid identity document of the depositor.
- Taxpayer identification number.
- The bank deposit agreement.
- A power of attorney, if a legal representative of the depositor is acting on their behalf.
If there is a change in surname, first name, or patronymic, the applicant must provide the agent bank with a certificate confirming the change or a marriage certificate issued by an authorized body.
Depositors who are unable to appear in person at the agent bank may authorize a representative to submit an application on their behalf. This representative must have a power of attorney issued by a notary.
When a representative applies to the agent bank, they must present both the power of attorney and an identity document.
When a depositor approaches an agent bank, and if they provide all the necessary documents, along with information about them in the register of depositors for insurance compensation, the agent bank will typically process the payment in cash on the same day or transfer it electronically to the account specified by the depositor, subject to all necessary procedures and checks.
If the documents submitted to the agent bank are incomplete or lack the information needed to identify the depositor, the agent bank will request additional documentation to support the depositor’s claim for insurance compensation.
Additionally, if the depositor’s information is not found in the register for insurance compensation, they must contact the liquidated credit institution or the Fund to determine the reasons for their omission from the register.
The Fund accepts applications and disburses insurance compensation to depositors within one year from the date of the insured event. Therefore, depositors do not need to rush to obtain insurance compensation and may apply to the agent bank at any convenient time within that year.
Application forms (available in Tajik):
