Prague - The Czech parliament's lower house Tuesday agreed to double the state's guarantee for private savings to 50,000 euros (63,770 dollars) in a bid to prevent a flight of money from Czech banks.

All 171 lawmakers present in the chamber voted in favour of the bill, which also requires presidential approval. The upper house may take up the amendment or decide to pass it on.

The Czech Republic, which is surrounded by countries that either provide or plan to provide unlimited savings guarantees, currently protects 90 per cent of retail bank deposits up to 25,000 euros.

Under the new bill, some 97 per cent of all retail bank deposits in the country would be protected, the government said. (dpa)