Uzbekistan Adopts a New Law on Bank Deposit Protection
Economy
On February 18, 2025, the Republic of Uzbekistan passed Law No. ORQ-1031, "On Guarantees for the Protection of Bank Deposits."
This legislation is designed to protect the deposits of individuals, legal entities, and sole proprietors by establishing mechanisms to guarantee their rights and legal interests.
According to the law, the Deposit Guarantee Agency has been designated as the authorized body responsible for ensuring the protection of deposits in banks. In the event of a guarantee case, the agency compensates depositors to secure their funds.
All banks, including microfinance and intermediary banks, automatically become participants in the guarantee system upon receiving a license.
If a bank faces a guarantee event, the compensation payments are as follows:
Deposits up to 200 million UZS are fully reimbursed.
Deposits exceeding 200 million UZS are compensated only up to 200 million UZS.
The agency must ensure compensation payments for at least 75% of depositors of a liquidated bank within the following timeframes:
From January 1, 2025 – within 20 working days.
From January 1, 2026 – within 15 working days.
From January 1, 2027 – within 7 working days.
This law takes effect from the date of its official publication and aims to further strengthen the protection of bank customers' deposits.
According to the law, the Deposit Guarantee Agency has been designated as the authorized body responsible for ensuring the protection of deposits in banks. In the event of a guarantee case, the agency compensates depositors to secure their funds.
All banks, including microfinance and intermediary banks, automatically become participants in the guarantee system upon receiving a license.
If a bank faces a guarantee event, the compensation payments are as follows:
Deposits up to 200 million UZS are fully reimbursed.
Deposits exceeding 200 million UZS are compensated only up to 200 million UZS.
The agency must ensure compensation payments for at least 75% of depositors of a liquidated bank within the following timeframes:
From January 1, 2025 – within 20 working days.
From January 1, 2026 – within 15 working days.
From January 1, 2027 – within 7 working days.
This law takes effect from the date of its official publication and aims to further strengthen the protection of bank customers' deposits.
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