JSC «CIB» received accreditation from the “Individuals' Deposit Guarantee Fund” (DGF). The accreditation significantly expands the range of capabilities for both the bank and its Clients. It also directly testifies to the recognition of the reliability of our bank, its transparency, and impeccable business reputation.
From now on, JSC «CIB» is authorized to guarantee Clients' obligations for participation in Fund auctions for the sale of assets of banks being liquidated. In case the Client is recognized as a winner at open tenders, the bank guarantees payment in favor of the Fund.
Thanks to the accreditation of JSC «CIB» «Services for providing bank guarantee and documentary letter of credit», the bank has the ability to provide electronic bank guarantees as a type of security for the fulfillment of obligations by a participant of open tenders.
The service consists of:
- providing an electronic bank guarantee in favor of an insolvent bank that owns the asset (property), the size of which is calculated in a percentage
ratio, determined by the Fund, from the initial price (sale price) of the property.
- providing a documentary letter of credit to the buyer of the asset (property) of the insolvent bank being sold.
