Cik Musa

Deposit Insurance Agency

Insurance of deposits of physical and legal persons is the Agency's core activity. Deposit insurance system includes the following categories of depositors: · Physical persons, · Entrepreneurs, · Small legal entities, and · Medium-sized legal entities. The insured amount is 50,000 EUR per depositor. Deposit insurance is meant to ensure the security of deposits and contribute to the overall stability of the Serbian financial system. Deposit insurance is free of charge for all depositors. In case of bankruptcy of a bank, the Deposit Insurance Agency's role is to ensure prompt and easy payout of depositors' money up to the insured amount, i.e. 50,000 EUR. The payout of insured deposits is guaranteed by the Republic of Serbia. On adopting the Capital Market Law, which came into effect on 17 May 2011, investor protection system was for the first time introduced in the Republic of Serbia. Pursuant to provisions of this law, Deposit Insurance Agency was, after obtaining the license by the Securities Commission, established as the Investor Protection Fund Operator. Membership in the Investor Protection Fund is mandatory for all the investment companies and banks providing portfolio management and performing administration of the clients' money and securities accounts, as well as for the management companies providing the said services to the clients other than investment funds. The Investor Protection Fund insures claims up to the amount of EUR 20.000 in RSD equivalent per Fund member's client.