Quarterly report pursuant to Section 13 or 15(d)

CUSTOMER LIABILITIES

v3.23.3
CUSTOMER LIABILITIES
 3 Months Ended
Jun. 30, 2023
Contract with Customer, Liability [Abstract]  
CUSTOMER LIABILITIES CUSTOMER LIABILITIES
The Group recognizes customer liabilities associated with deposit funds of its brokerage and bank customers. As of June 30, 2023, and March 31, 2023, customer liabilities consisted of:
June 30, 2023
March 31, 2023
Amount Interest Amount Interest
Interest bearing deposits:
Term deposits 984,845 
0.3% - 12%
 832,751 
0.1% - 16.9%
Total Interest bearing deposits $ 984,845  $ 832,751 
Non-interest-bearing deposits:
Current customer accounts $ 485,007  $ 458,954 
Brokerage customers $ 652,195  $ 633,542 
Total non-interest-bearing accounts $ 1,137,202  $ 1,092,496 
Total customer liabilities 2,122,047  1,925,247 
In accordance with Kazakhstan law requirements, commercial banks conclude agreements with JSC Kazakhstan Deposit Insurance Fund ("KDIF"), under which banks have to pay commissions to KDIF on a recurring basis, the amount of which depends on the term and demand deposits received by banks from the customers. Under the agreement, KDIF insures the term and demand deposits up to $44 to each customer. As at June 30, 2023, and March 31, 2023, respectively, the Group had total amounts in excess of insured bank time deposits of $601,406 and $539,411 for all customers.