1. JSC Bank CenterCredit (hereinafter referred to as the Bank) hereby informs you of its participation in the system of mandatory deposit guaranteeing, in confirmation of which the Bank was issued certificate No. 002 dated Desember 2, 2004.
2. According to the Law of the Republic of Kazakhstan “On Mandatory Guaranteeing of Deposits Placed with Second-tier Banks in the Republic of Kazakhstan” (hereinafter referred to as the “Law”), your deposit¹ is subject to mandatory deposit guaranteeing.
3. According to the Law, the maximum (ceiling) amount of the guarantee is:
- KZT 20 million for savings deposits in the national currency;
- KZT 10 million for other deposits (except for savings deposits) in the national currency;
- KZT 5 million for deposits in foreign currency.
If you have several deposits of different types and currencies, the Bank guarantees the aggregate balance of all deposits, but not more than the maximum amount of the guarantee indemnity – KZT 20 million, taking into account the limits for each type of deposit.
Please note that the amount of guarantee indemnity payable is calculated as of the date of revocation of the Bank’s license, based on the sum of deposit balances, including accrued interest, and is determined based on the results of:
- 1) offsetting the amount you owe to the Bank, for example, under a loan;
- 2) recalculation of the balance of the deposit in foreign currency into KZT at the market exchange rate;
- 3) calculation of the aggregate amount of the guarantee indemnity taking into account balances of other deposits with the Bank of different types and currencies.
We note that the name, type, currency, and other terms and conditions of your deposit, including the maximum (ceiling) amount of the guarantee indemnity established by the Law, shall be specified in the application or another document signed by you upon conclusion of the bank account agreement and (or) bank deposit agreement between the Bank and you, including in electronic form.
4. In case of revocation of the Bank's license to carry out all banking operations, “Kazakhstan Deposit Insurance Fund” (“KDIF”) JSC will start paying the guarantee indemnity for your deposit within 35 business days from the date of revocation of the Bank’s license.
The KDIF’s announcement on the commencement and procedure of payment of the guarantee indemnity, as well as on the agent banks making the payment of the guarantee indemnity, the period and places of payment or postponement of the beginning of payment of the guarantee indemnity in the case stipulated by the Law, shall be published in periodicals distributed throughout the territory of the Republic of Kazakhstan (Egemen Kazakhstan, Kazakhstanskaya Pravda), as well as in other mass media and on the KDIF website (www.kdif.kz).
The date of commencement of payment of the guarantee indemnity shall not exceed 5 business days from the date of publication of the said announcement by the KDIF.
5. The period of payment of the guarantee indemnity is 1 year from the date of payment commencement. To receive the guarantee indemnity, you may submit a paper application to an agent bank selected from the list of agent banks.
Payment of the guarantee indemnity shall be made not later than 5 business days from the date of submission of your application for payment with supporting documents. You can find the forms of applications for payment of the guarantee indemnity and the list of supporting documents on the KDIF website (www.kdif.kz).
The KDIF notification on the date of expiry of the guarantee indemnity payment period is published 30 business days before the expiration of the payment period in periodicals distributed throughout the territory of the Republic of Kazakhstan (Egemen Kazakhstan, Kazakhstanskaya Pravda), as well as in other mass media and on the KDIF’s internet resource (www.kdif.kz).
6. After the expiration of the guarantee indemnity payment period (1 year from the date of commencement of payment), your unclaimed amount of the guarantee indemnity shall be transferred by the KDIF to your individual pension account for accounting of voluntary pension contributions opened with the “Single Accumulative Pension Fund” JSC (hereinafter referred to as the SAPF) in the manner stipulated by the legislation of the Republic of Kazakhstan on social protection. The conditions for transferring the unclaimed amount of the guarantee indemnity to the Single Accumulative Pension Fund are defined by paragraph 2 of Article 21-1 of the Law.
7. According to the Law, if there is a valid reason that prevented you from applying during the payment period, you may submit a written application to the KDIF for payment of the guarantee indemnity accompanied by supporting documents (even if the KDIF has transferred your unclaimed amount to the SAPF). The list of valid reasons is outlined in Article 21-1(4) of the Law. Upon that, such application can be submitted before the final liquidation of the Bank or before you get the right to pension payments at the expense of voluntary pension contributions according to the Social Code of the Republic of Kazakhstan (in case of transfer of the unclaimed amount of indemnity to your individual pension account for accounting of voluntary pension contributions).
¹ money in the bank accounts certified by a bank account agreement and (or) bank deposit agreement