of February 12, 1996 No. 54
About measures for indexation of money of the population in deposits and on national insurance
In pursuance of the Presidential decree of the Republic of Uzbekistan of December 20, 1995 "About indexation of money of the population in deposits and on national insurance" the Cabinet of Ministers decides:
1. Establish the amount of indexation of money of the population in deposits and on national insurance taking into account growth of the price index taking place for 1992-1995 and also for the purpose of preserving consumer capability of the specified means of the population by 4.000 times.
2. To People's Bank of the Republic of Uzbekistan and commercial banks:
from February 15 to June 30, 1996 in case of the address of citizens of the Republic of Uzbekistan and persons without citizenship who are constantly living in the territory of the republic to perform opening of special accounts by it "Indexation" on deposits in organizations of banks of the Republic of Uzbekistan as of January 1, 1992 and acting for January 1, 1996 and issue of savings books on the indexation amount;
provide since July 1, 1996 step by step payment from the opened special accounts "Indexation" of the corresponding determined indexation sums;
to annually charge percent on accounts "Indexation" as of January 1 for the expired period, proceeding from the effective interest rate established on deposits "poste restante". Taking into account the rate of inflation annually to review the sizes of interest rates.
3. To head department of National insurance under the Ministry of Finance of the Republic of Uzbekistan from February 15 to March 31, 1996 to perform indexation of insurance premiums under agreements of long-term insurance as of January 1, 1992 and acting for January 1, 1996 and issue of adequate notices to insurers (according to all life insurance contracts, children and to wedding), having provided payments of the indexed amounts through organizations of People's Bank in the same order, as on population deposits.
4. Create republican, the regional, city and district commissions on indexation of money of the population in deposits and on national insurance.
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