InfinBANK: on deposit protection guarantees
On February 18, the President of the Republic of Uzbekistan signed the Law “On Guarantees for the Protection of Bank Deposits.”What does this mean for InfinBANK clients, and should you be concerned?
Guaranteed deposit protection up to 200 million UZS
State guarantees now cover deposits of up to 200 million UZS in each bank. This applies to new deposits opened after the law comes into effect. All previously placed funds remain fully guaranteed, regardless of the amount.
Protection for businesses
For the first time, state guarantees extend not only to individual deposits but also to business accounts, including funds held by entrepreneurs and individual business owners.
Compensation payments 4 times faster
Previously, deposit reimbursements could take up to 83 days. Now, this period has been reduced to 20 working days, with plans to further shorten it to just 7 working days in the future. This makes the deposit protection system even more efficient.
Why is this important?
- InfinBANK depositors are secure – In the unlikely event of a bank’s liquidation, customer funds will be returned in the shortest possible time.
- A more reliable banking system – The new law creates equal conditions for banks, strengthening trust in the financial sector.
InfinBANK does not impose a limit on deposit amounts. However, state guarantees apply only to deposits up to 200 million UZS. In the event of bank liquidation, any amount exceeding this limit would be reimbursed using the bank’s capital or assets.
InfinBANK is committed to protecting its clients
We fully support initiatives aimed at strengthening deposit security and expediting compensation payments. Our priority is ensuring that our clients feel confident, knowing that their funds are well protected.
- For more information on deposit protection, visit the official websites of the Central Bank, finlit.uz, and the Deposit Guarantee Agency.
- To learn more about InfinBANK deposit options, visit our website or check our mobile app.