Guest lectures of the Deposit Protection Agency of the Kyrgyz Republic

The Deposit Protection Agency of the Kyrgyz Republic is holding a series of lectures in honor of World Savings Day 2024

As part of World Savings Day 2024, the Deposit Protection Agency is holding a series of guest lectures on the topic "Deposit Protection System in the Kyrgyz Republic". The lectures started on October 8 and will be held in universities and schools across the country until November 14.

This initiative is aimed at raising awareness among students, teachers and the general public about the deposit protection system and the importance of financial literacy. We strive to emphasize the importance of savings as a tool for ensuring economic stability and prosperity, especially in the face of modern challenges.

On November 5, 2024, a guest lecture from the Deposit Protection Agency of the Kyrgyz Republic was held for students of the Kyrgyz Institute of Languages ​​and Culture.

Background.

World Savings Day was established in 1924 at the International Congress of Savings Banks in the Italian city of Milan. The main goal was to draw attention to the importance of savings and financial literacy among the population. The organizers sought to raise awareness of how savings can contribute to economic stability and prosperity. Since then, this day is celebrated on October 31 in different countries around the world. The importance of savings is emphasized through various events, including educational campaigns, seminars and events aimed at popularizing financial planning and responsibility in managing personal finances. World Savings Day has become a symbol of the desire for financial independence and a sustainable future.

In many countries, there are symbols of savings, and in Kyrgyzstan, such a symbol is the yurt, which represents the preservation and increase of wealth. The Deposit Protection Agency of the Kyrgyz Republic hopes for the active involvement of the country's population in financial cooperation and recommends investing their savings in banks and microfinance companies that have the appropriate licenses from the National Bank to attract deposits.

It should be noted that the total deposit base of clients of the banking sector amounted to 555.4 billion soms (at the end of 2023 - 431.3 billion soms) and increased by 28.8 percent since the beginning of the year. This indicates that the population began to trust banks and began to keep their savings on deposits in banks. The growth of the deposit base is primarily due to the stability of the banking system, as well as a number of advantages that deposits have.

The size of the Deposit Protection Fund as of September 30, 2024 amounted to 7,053.1 million soms (at the end of 2023 - 5,852.6 billion soms) and increased by 20.5% since the beginning of the year.

"Savings play a key role in building a sustainable future, and we are confident that educating young people and the population as a whole about the deposit protection system will help create a safer financial environment for everyone," said a representative of the Deposit Protection Agency of the Kyrgyz Republic.

The Agency invites all interested parties to participate in lectures and seminars to better understand the importance of savings and deposit protection in the Kyrgyz Republic.