Last update - 19.09.2017

Deposit Guarantee Fund of Armenia is a non-commercial organization, founded by the Central Bank of Armenia in accordance with the RA law on "Guarantee of remuneration of bank deposits of physical persons”.

The objective of the Deposit Guarantee Fund is guaranteeing remuneration of amounts placed by individuals in the banks. The Funds guarantees deposits in all 17 banks operating in Armenia. Remuneration is effected in case of insolvency of a bank.

The maximum amount subject to remuneration of guaranteed deposits is 10 million drams. If the sum is deposited in foreign currency, the maximum amount subject to remuneration is 5 million drams.

The Fund guarantees deposits by its own means, which are formed from regular quarterly premiums made by all banks.

The Central Bank of Armenia supervises the operations of the Fund.