Deposit Insurance Agency Starts Active Advertisement Campaign

LEPL Deposit Insurance Agency launches an active advertisement campaign in order to raise public awareness about Deposit Insurance System. In the campaign framework informative graphic videos will be advertised through TV channels and various news web-portals. Video-clips answer all frequently asked questions about the Deposit Insurance System.

Deposit Insurance system as a worldwide practice of protecting depositors was implemented in Georgia since January 2018. In the system framework, all types of deposits of individual depositors held at any commercial bank, operating in Georgia, are insured under the established insurance limit of 5 000 GEL. The system does not imply additional costs or require any procedures for the depositors.

Introduction of the System was envisaged, inter alia, under the Association Agreement with the European Union and was established in accordance with the best international practice and the World Bank recommendations.

Main aim of the system is to support stability of financial system in the country and avoiding public distrust in case of problem occurring in banking sector. Thus, sufficient public awareness is dramatically important for deposit insurance system to be effective and accomplish its functions.

 

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