WHO IS INSURED?

HOW MUCH IS INSURED?

MEMBER BANKS

HOW DO I GET PAYED BACK?

About us

The Deposit Insurance Agency is an independent legal entity of the public law (LEPL) that was established on July 24, 2017 in accordance with the Law of Georgia on Deposit Insurance System. The main function of the Agency is to insure the deposits of resident and non-resident individuals in all commercial banks operating in Georgia. In the event of the commencement of liquidation, insolvency or bankruptcy proceedings in any of the banks (according to the Law of Georgia on Activities of Commercial Bank), the Deposit Insurance Agency will ensure the reimbursement of deposits, up to the set limit, to depositors within 20 calendar days.

The Agency is led by the Head of the Agency. Otar Dzidzikashvili was selected through an open competition and appointed as the Head of the Agency in September 2017. The organizational structure of the Agency was formed in accordance with the best international practice. The Agency is composed of five employees including the Head, a financial expert/ analyst, a lawyer, a compensation expert and an administrative specialist.

The Agency is supervised by the Supervisory Board comprised of the Minister of Finance, the Minister of Economy and Sustainable Development, the President of the National Bank of Georgia and two (2) independent members selected by commercial banks.

The Deposit Insurance Agency administers the deposit insurance system in the country and ensures its proper and effective operation. The deposit insurance system, together with the prudential regulation, liquidity support and effective supervision represents an important component of financial stability and safety and protects depositors from incurring losses (within the set limit).

The Deposit Insurance System is currently implemented and successfully operated in 146 countries, including all EU Member States and the United States. Events of the last decade provided clear evidence that the cases of bank insolvency are prevalent even...

Important news

Latest News

Deposit Insurance Agency invested in Treasury Securities

According to Investment Policy of Deposit Insurance Agency and Investment Plan 2019 the Agency participated in Treasury Securities Auction of Ministry...

Read More

Commercial Banks Paid 1 464 383,28 GEL Regular Insurance Premium in September 2019

According to the Law of Georgia on “Deposit Insurance System” and “Instruction for Calculation of Base for Regular Insurance Premium...

Read More

Information about Deposits as of September 30, 2019

Total amount of Deposits for all 15 commercial banks operating in Georgia as of September 30, 2019 equals to 26 530 321 369 GEL.

Read More

FAQ

What happens if a depositor fails to withdraw the amount within 20 days?

Depositor will retain the right to claim...

How are the funds accumulated in the Deposit Insurance Fund managed?

The funds accumulated in the Deposit Ins...

What happens if upon occurrence of the insurance case there is no sufficient amount in the Fund to compensate depositors?

If upon occurrence of the insurance case...

Numbers at a Glance

96% depositors

Fully insured depositors