A new bank has entered Kazakhstan’s financial market. KMF Bank JSC received its official license to conduct banking operations just yesterday, and today – August 12, 2025 – it has already become a member of the mandatory deposit guarantee system for individuals. The announcement was published on the official website of the Kazakhstan Deposit Insurance Fund (KDIF), DKNews.kz reports.
Security from the very first day
From its very first day of operations, KMF Bank has joined the ranks of the 21 KDIF participants, ensuring its clients’ funds are protected under a state insurance. This means that if the bank loses its license, the Fund will reimburse deposits within the limits set by law.
The insurance applies not only to individual deposits but also to the funds of sole proprietors, private notaries, lawyers, private bailiffs, and professional mediators.
How much is covered?
The size of the insurance depends on the type and currency of the deposit:
- Up to 20 million tenge – for savings deposits in tenge
- Up to 10 million tenge – for other tenge deposits, current accounts, and payment cards
- The equivalent of 5 million tenge – for any deposits and accounts in foreign currency
If a client has several deposits in one bank, their combined total must not exceed these limits.
Transparency and easy access to information
The KDIF website offers an online calculator that allows depositors to check what portion of their savings is covered.
In addition, under a joint initiative of the KDIF and the Agency for Regulation and Development of the Financial Market, banks must now display all key deposit information – including the type of deposit and the maximum insurance amount – in a clear table on the very first page of the contract. This helps clients quickly understand the terms and make informed decisions.
Why it matters
When a new bank enters the market, the key question is trust. By joining the KDIF system from day one, KMF Bank is offering its clients a solid insurance of safety. This move not only strengthens confidence in the bank itself but also contributes to the overall stability of the financial system.
