Annual report pursuant to Section 13 and 15(d)

CUSTOMER LIABILITIES

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CUSTOMER LIABILITIES
12 Months Ended
Mar. 31, 2024
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 March 31, 2024, and March 31, 2023, customer liabilities consisted of:
March 31, 2024 March 31, 2023
Amount Interest rate Amount Interest rate
Interest-bearing deposits:
Term deposits $ 1,221,072 
0.04% -17.3%
$ 832,751 
0.10%-16.9%
Total Interest-bearing deposits $ 1,221,072  $ 832,751 
Non-interest-bearing deposits:
Brokerage customers $ 742,902  $ 633,542 
Current customer accounts $ 309,856  458,954 
Total non-interest-bearing accounts
$ 1,052,758  $ 1,092,496 
Total customer liabilities 2,273,830  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 $45 to each customer. As at March 31, 2024 and March 31, 2023, the Group had total amounts in excess of insured bank time deposits of $600,972 and $539,411 for all customers, respectively.