DUSHANBE, June 22, 2011, Asia-Plus  -- Tajikistan’s lower house (Majlisi Namoyandagon) of parliament has endorsed a draft law on insurance of deposits of physical entities.

A regular sitting of the second session of the Majlisi Namoyandagon of the fourth convocation, presided over by its chairman, Shukurjon Zuhurov, was held on June 22.

Presenting the bill, Sharif Rahimzoda, head of the National Bank of Tajikistan (NBT), noted that law provided for the establishment of the Savings Deposit Fund (the Fund) and all banks and lending agencies of country would become members of the Fund without fail.  They will pay membership fees at the rate equal to 0.5 percent of their authorized capitals, the central bank head noted.

According to him, the Fund is dedicated to ensure protection of deposits of the population against any economic or financial cataclysms.  The Fund may also receive loans from the government, Rahimzoda added.

MP Ismoil Talbakov, for his part, noted that according to the NBT data, population’s deposits kept in local banks and lending agencies now amount to some 1.5 billion somoni.  He expressed confidence that the deposit insurance law would promote transferring savings of some Tajik nationals kept in foreign banks to local banks.

Ismoil Talbakov told Asia-Plus after the sitting that according to unconfirmed information, deposits of Tajik nationals kept in foreign banks now fluctuated between US$1.5 billion and US$2 billion.