Participant of the Guarantee Fund supporting deposits of individual persons

OJSC Raiffeisen Bank Aval is registered in the Register of banks (participants of the Guarantee Fund supporting deposits of individual persons) in 1999 and that is confirmed by the corresponding certificate of the Fund participant ¹112 dated 02.09.1999.

Since 1999 OJSC Raiffeisen Bank Aval bank regularly pays all due fees to the Guarantee Fund the amount of which is determined according to the current legislation of Ukraine. For today the amount of fees paid to the Fund makes up 0,25 % of the sum of individual persons' deposits as of the beginning of the first half of 2003. Payment of fees by the Bank is made quarterly.

OJSC Raiffeisen Bank Aval bank and Guarantee Fund concluded a general cooperation agreement according to which "Raiffeisen Bank Aval" bank can act as the agent bank of the Fund on payment of compensation to investors of participant banks of the Fund at the expense of Fund in case if deposits in participant bank are unattainable.

Besides the Fund and the Bank concluded a cooperation agreement dated August, 5 2002 concerning payment of compensations to investors of CJSB "Slavyanskiy" and JSB "Ukraina" at the expense of Fund by means of transferring funds in tranches through the system "Aval-Express".

The Guarantee Fund supporting deposits of individual persons (hereinafter called the Fund) was founded according to the Decree of the President of Ukraine ¹996/98 dated September, 10 1998.

The Fund is aimed to protect the interests of individual persons — depositors of banks. The Fund is a specialized state institution functioning which performs the functions of government administration in supporting deposits of individual persons.

The Fund functions according to the Law of Ukraine ¹2740-III "About the Fund supporting deposits of individual persons" dated September, 20 2001.

Within three years of its functioning the Fund have been paid off guaranteed sums on deposits in banks "Slavyanskiy" and "Ukraina" which were liquidated.

The Fund supports deposits of citizens placed in participant banks in national and foreign currency including interests on deposits but not more than 50 000 hryvnas for deposits in each bank on the day when those are unattainable. Deposits up to 1 hryvna are not repaid.

The Fund supports deposits of individual persons in banks of Ukraine which are participants (temporary participants) of the Fund. Twice a year the Fund publishes in official mass media the register of participant banks (temporary participants) of the Fund.

For more information about the system of supporting deposits of individual persons please refer to the Guarantee Fund by the address:
Jaroslavov Val street 32à, Kiev, 01034, 8-800-3081080.
You can visit Fund’s Internet web-page: www.fg.org.ua