The Deposit Guarantee Fund shall be managed by a public institution under the oversight of the Ministry of Finance. This institution, hereinafter the Fund management, shall collect and manage the Fund's money resources for deposit guarantees, and pay the guaranteed consideration. The chairperson of the board is appointed by the Cabinet of Ministers upon the recommendation of the Minister of Finance. The chairperson of the board carries a five year term. Board members are approved by the Cabinet of Ministers upon the recommendation of the chairperson of the board.
Board members carry a three year term.
The decision to remove the chairperson of the board from office ahead of term rests with the Cabinet of Ministers. The decision to remove board members from office ahead of term rests with the Cabinet of Ministers upon the recommendation of the chairperson of the board. The activity of the Fund management shall be administered by the chairperson of the board who is also the Fund management director.