Deposit Insurance

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Notice to an Individual Client Who has Entered into Bank Account Agreement and/or Bank Deposit Agreement

JSC “Bank CenterCredit” (hereinafter referred to as the “Bank”) hereby informs you of its participation in the mandatory deposit guarantee system.
In accordance with the Law of the Republic of Kazakhstan “On Mandatory Guaranteeing of Deposits Placed with Second-Tier Banks of the Republic of Kazakhstan” (hereinafter – the Law), your deposit, i.e. the funds held in bank accounts evidenced by a bank account agreement and/or a bank deposit agreement, is subject to mandatory deposit guarantee.

According to the Law, the maximum (maximum) amount of the guarantee is:
· 20 twenty million tenge for savings deposits in national currency;
· 10 ten million tenge for other deposits (except savings) in national currency;
· 5 million tenge for deposits in foreign currency;
If several deposits of various types and currencies are placed in the Bank, total balance of the amount for all deposits is guaranteed, but not more than the maximum amount of guaranteed compensation – 20 twenty million tenge, taking into account limits for each type of deposit.
Please note that the amount of guarantee compensation payable is calculated as of the date the Bank is deprived of its license to conduct banking operations (hereinafter referred to as the “license”), based on the balance of the deposit including accrued interest, and is determined based on:

recalculation of the amount of balance on the deposit in foreign currency in tenge at the market exchange rate;
calculation of the total amount of warranty refund, taking into account amounts of balances on other deposits in the Bank, of various types and currencies.
offsetting the amount of your debt to the Bank, for example, on a loan;
Please note that the name, type, currency and other conditions for your deposit, including the maximum amount of guarantee compensation established by Law, are indicated in the application or other document signed by you when concluding a bank account agreement and/or a bank deposit agreement between the Bank and you, including in electronic form.

In case of withdrawal of the Bank license, Kazakhstan Deposit Insurance Fund JSC (hereinafter – the KDIF) begins payment of a warranty refund for your deposit within 20 business days from the date of withdrawal of the Bank license.
The KDIF announcement on the start date, procedure and methods of applying for guarantee compensation, as well as the list of agent banks authorized to make such payments, and any postponement thereof, shall be published within 15 working days from the date of license withdrawal in periodical print media distributed throughout the Republic of Kazakhstan (Yegemen Kazakhstan, Kazakhstanskaya Pravda), as well as on the KDIF website (www.kdif.kz) and in other mass media.
The warranty refund period is 1 year from the start date of the payment. To receive guarantee compensation, you have the right to submit an application in paper form to an agent bank selected from the list of agent banks.
Payment of the warranty refund is made no later than 5 business days from the date of your application for payment, accompanied by supporting documents. You can find the application forms for payment of the warranty refund and the list of supporting documents on the KDIF website (www.kdif.kz).
Notice of the KDIF on expiration date of the warranty refund period is published 30 business days before expiration date in periodicals distributed throughout the Republic of Kazakhstan (Yegemen Kazakhstan, Kazakhstanskaya Pravda), as well as in other mass media and on the KDIF website (www.kdif.kz).
After expiration of the warranty refund period (1 year from the date of commencement of payment), the amount of the unclaimed warranty refund will be transferred by the KDIF to your individual pension account for voluntary pension contributions opened in JSC Unified Accumulative Pension Fund (hereinafter – UAPF) in accordance with the procedure provided for by the RoK legislation on social protection. Conditions for transferring the unclaimed amount of the warranty refund to the UAPF are defined by paragraph 2 of Article 21-1 of the Law.
According to the Law, if there is a valid reason that prevented you from submitting an application during the payment period, you have the right to submit to the KDIF a written application for payment of a warranty refund with supporting documents attached (including KDIF transfers the amount you unclaimed to the UAPF). List of valid reasons is established by paragraph 4 of Article 21-1 of the Law. Such application may be submitted until the final liquidation of the Bank or until you become entitled to pension payments from voluntary pension contributions in accordance with the Social Code of the Republic of Kazakhstan (in case the unclaimed amount has been transferred to your individual pension account).

Deposit Insurance

The KDIF explained how the deposits of kazakhstanis are protected