DIA reviewing ways to extend bank deposits insurance protection to companies

Author: Inga Friedelhaus Section: Major Events of the Month

Issue: March 2010, Vol. 5, No. 2

Tags: DIA

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Bank Insurance Extension

Deposit Insurance Agency (DIA) says it is currently studying the possibilities of extending the state’s obligatory bank deposits insurance policy to companies’ assets, DIA Director Alexander Turbanov said.

“Such insurance protection also should be extended to companies. This is a global practice, as all bank clients ought to be protected in equal measures,” he added. “This is very important because if individuals independently make decisions to place money in banks, it is the government that forces companies to keep their money in banks. In such case, the state should also guarantee the security of such assets.”