The Deposit Insurance Agency is a specialized state body whose main activity is the deposit insurance.
The system of deposit insurance of individuals is introduced 2005 by coming into force of the Deposit Insurance Law (“Official Gazette of the Republic of Serbia“, No. 61/05), and through amendments hereto in 2008 and 2010 the coverage scope was enlarged by introducing new categories of depositors, but also the coverage level (insured amount).
The new Deposit Insurance Law (“Official Gazette of the Republic of Serbia“, No. 14/15), defining the conditions and method of mandatory deposit insurance, depositor categories and coverage level, came into force on 01 April 2015.
The Serbian deposit insurance system covers the following categories:
- Micro legal entities,
- Small legal entities, and
- Medium-sized legal entities
The coverage level (insured amount) is EUR 50,000 per depositor per bank.
The purpose of deposit insurance is to provide the depositors with the safety of their deposits and contribute to the general stability of the Serbian financial system.
Every bank is obliged to insure the deposits of individuals, entrepreneurs, micro, small and medium-sized legal entities with the Deposit Insurance Agency.
The deposit insurance is free for all depositors.
In the case a bank fails, i.e. in the case of opening of the insolvency or liquidation proceedings against it, the Deposit Insurance Agency must enable fast and simple reimbursement up to the coverage level of EUR 50,000.
Deposit insurance is guranteed by the Republic of Serbia.