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Dicom's Activities

DICoM’s activity

1. Collect insurance premium;
2. Compensating depositors on occurrence of an insured event
3. Manage the deposit insurance fund according to the law
4. Assessing and monitoring the risk profile of the participating banks in order to monitor the financial exposure of the Fund.

Deposit insurance premium
banks shall pay deposit insurance premiums to Corporation, according to a regulation approved by the National committee. Herein:

  • Initial premium  - 1 % of the minimum requirement for the paid in capital of the bank
  • Quarterly premium   - 0.5% of insurable deposits

Which is maximum rate, National committee shall determine the quarterly premium rate for the every year. Quarterly premium rate are 0.075% for systemic important banks, 0.1% for other banks in this year

  • Extraordinary premium - 0.5 % of the insurable deposits

Deposit insurance fund sources

1.      Premiums paid by the banks to a special account of the Government at the Bank of Mongolia as stipulated in Article 2.5 of the Blanket Guarantee Law.

2.      Initial capital provided by the State budget for the establishment of the Fund;

3.      Initial capital provided by the Bank of Mongolia for the establishment of the Fund;

4.      Deposit insurance premiums to be paid by the banks;

5.      Revenue from investments of the deposit insurance fund assets;

6.      Revenue from selling assets of banks in which an insured event occurred;

7.      Loans, grant aid and other funds provided by the Government, the Bank of Mongolia and international organizations;

8.      Borrowings of the Corporation from foreign banks and financial institutions;

9.      Bonds issued by the Corporation;

10.   Other sources stipulated in laws.

Expenditures of fund

1.      Reimbursing depositors;

2.      Providing financial support to a bank which assumed deposits of a failed bank;

3.      Covering the operating costs of the Corporation;

4.      Repayment of the principle and interest on loans, borrowings and bonds acquired or issued by the Corporation.


Investments of the fund

1.    Securities issued or guaranteed by the State of Mongolia;

2.    Securities issued by the Bank of Mongolia;

3.    Securities issued by foreign governments or international financial institutions holding a rating of AAA assigned by an internationally recognized rating agency;

4.    Deposits with foreign central banks of OECD countries.

Compensating procedures 
1. The National Committee shall make a decision on providing compensation to depositors within 3 working days after the Corporation received the notification from the Bank of Mongolia on occurrence of an insured event.

2. The Corporation shall inform depositors by public broadcasting system within 48 hours after the release of a decision about the manners and timelines in which the depositors will be reimbursed.
3. The Corporation shall start payments via a pay-out agent bank within 30 working days after the decision of the National Committee to compensate

4.  The compensation of foreign currency deposits shall be made by local currency/tugrik/ applying the exchange rate of the Bank of Mongolia as at the date of the insured event.

5. Details of the compensation procedure shall be prescribed through regulations to be adopted by the National Committee.

6. The Corporation is obliged to inform the depositors about the progress of the compensation process.

7.The National Committee shall adopt the regulation regarding the content of information and its broadcasting manner.

Rights of depositors


1.Depositors shall have a right to be compensated on occurrence of an insured event.

2.If a depositor has acted as a representative for the account of a third party, the deposit is assigned to the third party.

3.In case of inheritance of a deposit, the depositor who is taking the inherited deposit shall be compensated separately besides his or her own deposit.

Rights of the Deposit Insurance Corporation

1.In order to fulfill its legal duties stipulated in this law, the Corporation may obtain reports and other relevant information from the banks regarding the deposits and depositors.

2.The Corporation may obtain audit reports, financial statements, financial indicators and other relevant information from the banks.

3.The Corporation, when deeming it necessary to evaluate the probability of an insured event, may request the Bank of Mongolia to investigate a bank.

4.The Corporation may request the Bank of Mongolia to allow a representative of the Corporation to join in the receivership process of a failed bank and can it.

5.The Corporation may, if the funds of the corporation are insufficient to exercise its duties, request financial support from the Bank of Mongolia and the Government.

6. The Corporation may adopt regulations in the context of its assigned rights and examine the implementation of the regulations.

Асуулт хариулт


It is the entity or the person who is holding current account and money accounts at the commercial banks.



Deposit insurance is the system that provides a limited security or hedging against the risk to member commercial banks and their deposit holders in order to create systematic financial stability and public’s trust to the banking sector, by paying back compensation or contract terms in case of insurance case.  It is the entity or the person who is holding current account and money accounts at the commercial banks.