IADI is pleased to provide the next
issue of its e-Newsletter. The e-Newsletter keeps you up-to-date on
information about IADI activities from January to July 2016, as well
as on IADI upcoming events.
We look forward to seeing you at the
15th Annual General Meeting and Annual Conference, 23-28 October 2016
in Seoul, Korea.
Gail L. Verley Secretary
General International Association of Deposit Insurers
Message from Thomas M Hoenig, President of IADI and
Chair of the Executive Council
Reading through this issue of the newsletter reminds me what a busy
time it has been for IADI since I was elected to serve as President
and Chair of the Executive Council last October. I have enjoyed
working with the EXCO and across the broader membership on issues
that are important to the Association as we advance IADI’s mission
to enhance the effectiveness of deposit insurance through
international cooperation.
As our Association moves into a new era of leadership, I want to
express my sincere thanks to Gail Verley for her dedicated service
to IADI over the past three years. As Secretary General, Gail has
represented IADI around the world, and she has been an instrumental
part of my transition to President of IADI and Chair of the EXCO.
I have relied upon her leadership and guidance in working with the
EXCO on many projects, including IADI’s five-year Strategic Plan, the
recruitment and selection of our next Secretary General and the
Association’s first Senior Policy and Research Advisor, and the
successful oversight of the Website Redesign and Enhancement project.
I also want to thank Gail for her support in the transition to her
successor, David Walker. I appreciate all that Gail has accomplished
for IADI and wish her and her family the best. Please join me in
thanking Gail.
We are extremely fortunate to have David Walker join IADI as our new
Secretary General effective 01 October 2016. David has been a major
contributor in IADI’s efforts to promote more effective deposit
insurance systems around the world for over a decade; this experience
makes him uniquely qualified to serve as our next Secretary General.
David will work closely with Ms Kumudini Hajra, our new Senior Policy
and Research Advisor (SPRA). Ms Hajra will coordinate the efforts of
our Research and Guidance Committee and our Advisory Board to develop
IADI’s policy and research agenda and continue to deliver high-quality
products on critical issues that affect deposit insurers worldwide.
Please join me in welcoming David and Kumudini.
We have crossed some important milestones for the Association since
the adoption of our Strategic Plan last year. The Secretariat has been
strengthened with the selection of our new SPRA. We created three
Working Groups to map out the action items for IADI in three key areas
of the Strategic Plan: funding, governance and technical assistance,
and we heard the recommendations of these groups at our May meeting in
Paris. While the EXCO decided to pause on any revamping of our funding
model pending a review of the success of Phase I of the Plan, they
adopted a new governance concept that will further strengthen the role
of the Secretariat and enhance IADI’s effectiveness in the policy
arena through its production of research and guidance. The EXCO is
moving forward on the implementation of the governance concept so that
the new structure can be presented at our Annual General Meeting in
Seoul.
The EXCO also approved the recommendations of the Working Group on
Training and Technical Assistance, which included a series of regional
workshops to address the needs identified by the Group’s membership
survey. The Training and Conference Committee is now working with our
Regional Chairpersons to plan these workshops and create programs that
are responsive to the specific needs of members within each region.
I want to thank the members of the EXCO for their diligent efforts in
making this impressive progress on our Strategic Goals, and I thank
all IADI members for your continued dedication in fulfilling the
important mission of our Association. I look forward to seeing
everyone at our 2016 Annual General Meeting in Seoul.
Farewell Message from the IADI Secretary General
Gail Verley
It is a pleasure to share with you an update on the Association’s
activities. Most significant is the selection of the next Secretary
General(SG), David Walker. Since this is my last newsletter as SG, I
wanted to express my deep appreciation to IADI for the support
provided to the Secretariat and me. My tenure began in September
2013 and will end 30 September 2016. I look forward to seeing you at
the 2016 Annual Meeting in Seoul to bid farewell.
During my tenure so far, the Association has grown in membership to
82 Members, 10 Associates and 14 Partners. In addition, the update
of the IADI Core Principles for Effective Deposit Insurance
Systems(Core Principles) and Handbook for Assessing Compliance with
the Core Principles were completed under the leadership of the EXCO
and the Core Principles Steering Committee. The joint conference
with the Financial Stability Institute(FSI) focusing on Crisis
Management, Bank Resolution and Deposit Insurance is now a key
program offering of the FSI, bringing together all safety-net
organisations to discuss and debate these critical issues. As one of
the originators of the program in 2010, the importance of this
conference today reflects the growing role of IADI to participate in
the global discussions on financial stability.
We have seen the
Association’s StrategicGoals updated and a
plan developed to enable IADI to enhance its capabilities as the
standard-setting
body for deposit insurance. Developing the framework for a stronger
Secretariat to support the growing organisation’s needs has been a key
focus. Embracing the necessary changes and the revenue to support
IADI’s programs, the membership approved an increase in annual fees
for the first time,
beginning in
the current fiscal year.
It has been a privilege serving as the IADI Secretary General and
working with our Deputy SG, Kim White, and the Secretariat secondees.
Kim’s leadership and dedication since IADI’s inception ensures that
the Secretariat is prepared to welcome new staff, IADI Participants
and Partners and that governance and financial matters are prepared
for the Association’s leadership. The support of our Members
sponsoring secondments in the Secretariat has enabled the Association
to grow and address the operational and strategic issues. Working with
this international team has been extremely rewarding.
Goodbye, adieu, ciao, adios, auf Wiedersehen
Gail
Announcements of New Secretariat Members and
Farewell to Departing Secondees
New Secretariat Members
David Walker
(Secretary General)
IADI recently announced that Mr David Walker will succeed Ms Gail
Verley as SG of IADI, effective 01 October 2016, for a four-year
term. Mr Walker will be joining IADI from the Canada Deposit
Insurance Corporation (CDIC) where he held the position of Managing
Director of the Executive Office and International Affairs. He had
worked at CDIC for over 20 years in roles of increasing
responsibility involving insurance and risk assessment, policy
development and international affairs. Throughout the years, Mr
Walker has provided leadership and guidance on behalf of IADI and
the CDIC. He has contributed greatly to advancing effective deposit
insurance systems worldwide. Mr Walker joined the Secretariat staff
in July as a Senior Advisor, prior to assuming his duties as SG in
October. A press release of the announcement may be found
here.
Kumudini Hajra (Senior Policy and Reseach
Advisor)
Phase
I of IADI’s Strategic goals focuses on advancing
IADI’s research and policy development, including strengthening the
work of the Secretariat with longer term expertise to address this
goal. Similar to the recruitment for the next SG, the Association
conducted a competitive process to select the candidate for this
newly created position, resulting in the Executive Council
appointing Ms Kumudini Hajra. Ms Hajra joins IADI from the Reserve
Bank of India where she served for nearly 23 years in various areas
including deposit insurance, resolution framework, and capital
markets. Ms Hajra will serve a four-year term, beginning 1 July
2016. A press release of the announcement may be found
here.
The Secretariat will be announcing the recruitment later this month
for a Senior Research Analyst and Administrator (SRAA). The SRAA
will conduct research and analysis on deposit insurance and
financial stability issues and manage the collection, reporting,
interpretation and maintenance of deposit insurance information,
including data collected from member countries.
Farewell to Departing Secondees
Farewell to Michiyo, YoungWoon and Oktawiusz- the Secretariat would
like to express its sincere gratitude to the highly valued staff
members who have returned, or shall soon be returning, to their
organisations following the end of their secondments, as well as
express gratitude for the continued support of the sponsor
organisations.
Michiyo Yonei, of the Deposit Insurance Corporation
of Japan (DICJ), has been at the Secretariat since January 2013.
Amongst her many responsibilities, Michiyo has played a key part in
the planning and monitoring of the Association’s finances and audit
activities, in addition to assisting in the detailed planning and
execution of numerous IADI events.
She will be succeeded by Mr Takayuki Suzuki, also of the DICJ.
YoungWoon Kim, of the Korea Deposit Insurance
Corporation (KDIC), began at the Secretariat in June 2014. His
skills have been applied to, amongst other areas, the production of
presentations for the SG, the maintenance of the Annual Survey
database (and research based upon it), and for managing the IADI
external and member-only websites.
Mr Sangjun Lee, also of the KDIC, has joined us to continue
these critical activities of the Secretariat and Association.
Oktawiusz Szubart, returned to the Bank Guarantee
Fund (BFG), Poland, in February 2016 having served at the
Secretariat for a two year period. Oktawiusz contributed to the
drafting of several Association publications, such as the Annual
Report, Business Plan and Newsletters. Whilst he worked closely with
the Membership and Communications Committee (MCC), simultaneously
Oktawiusz was a member of Research and Guidance Committee (RGC)
Subcommittees such as, Financial Inclusion and Innovation and
Deposit Insurance Fund Target Ratio.
The European Regional Committee (ERC) held its
Annual Meeting and International Conference between 11-13 February
2016, in Torino, Italy, hosted by the Fondo Interbancario di Tutela
dei Depositi (FITD). The event included a Workshop on the IADI Core
Principles for Effective Deposit Insurance Systems (the CPs),
alongside a related discussion on the IADI Handbook for the
Assessments of the CPs and speakers’ experiences. An International
Conference on the theme of ‘Preventing and Resolving Bank Crises in
the European Banking Union and Depositor Protection’ followed the
Workshop. The Workshop and Conference featured high-level
representatives from the European Central Bank, Single Resolution
Board and International Monetary Fund.
9th
DICJ Round Table
The Deposit Insurance Corporation of Japan (DICJ) held the “9th
DICJ Round Table” on 17-18 February 2016, in Kyoto, Japan,
with 100 participants from foreign deposit insurance institutions
and relevant authorities representing 17 countries/jurisdictions (20
institutions) as well as domestic experts. The Round Table theme
“Lessons Learned from Respective Countries” included lively
discussions and presentations on the experiences and issues
concerning financial crisis and deposit insurance systems. Senior
representatives of deposit insurance corporations from nine
different jurisdictions, along with representatives from the
Japanese organisations comprising the financial safety net,
addressed the participants. Further details may be found
here.
47th EXCO - Basel
Alongside the RGC Subcommittee and IADI Standing Committee meetings
associated with the Executive Council (EXCO) Meetings,
the 47th EXCO Meeting, was held from 7-9 March 2016,
in Basel, Switzerland. The agenda included meetings of the three EXCO
Working Groups and a Workshop on Resolution Issues for Financial
Cooperatives (RGC Subcommittee SRIFC). Around 40 delegates attended
the Workshop, chaired by Julien Reid of the AMF, Quebec, from around
20 jurisdictions. The Workshop provided an opportunity to exchange
views, generate interaction, answer questions and receive comments on
topics covered in the SRIFC survey. Twenty-seven jurisdictions
responded to the SRIFC survey. The survey results, as well as
jurisdictions selected for case studies, will form the basis for the
Subcommittee’s first research paper.
LARC, RCNA and CRC workshop
From 19-20 April 2016, the Seguro de Depósitos Sociedad Anónima
(SEDESA, Argentina) hosted the
First Americas Deposit Insurance Forum, in Buenos
Aires, Argentina. The event brought together, for the first time,
deposit insurance organisations from the Regional Committees of Latin
America, the Caribbean and North America. Amongst the topics under
discussion were unique issues for deposit insurance and financial
cooperatives, advancing stronger relationships with supervisors and
other safety net players, and legal liability issues in resolution.
The format for the Workshop included small round table discussions to
address key questions raised by each topic as a method of engaging the
participants to share experiences and respond to the speaker
presentations. Further detail may be found
here.
48th EXCO and Conference- Paris
IADI held its 48th EXCO Meetings, hosted by the Fonds
de Garantie des Dépôts et de Résolution (FGDR), France, in Paris from
23 to 26 May 2016. On the final day of the event, Thursday 26 May, the
FGDR and IADI Europe Regional Committee hosted a
one-day conference on the theme of ‘Diversity and Harmonisation of
Deposit Insurance’, which aimed to compare the harmonisation of
principles and practices and the diversity of deposit insurance
models: structures, mandates, governance, resources or operating
methods. Around 180 delegates attended the Conference and speakers
included the Chair of the FGDR, the French Minister of Finance, and
Deputy Governor of the Banque De France. The panellists on each of
four panels provided input based on their personal insights. For
example, the four panellists on the theme of ‘Crises’ came from
differing jurisdictions and spoke about facing a systemic crisis
(Japan), dealing with multiple failures (Russia), crises inflicted by
nature (Philippines) and a resolution case faced by a Private Deposit
Insurance Scheme (Germany). Similarly, the panel on ‘Models’
(mandates) originated from DIOs with differing mandates worldwide.
Further details may be found
here.
Annual APRC meeting and conference
From 15-17 June 2016, the 14th Annual Asia-Pacific Regional
Committee (APRC) Meeting and International Conference was
held in Iloilo, Philippines, hosted by the Philippine Deposit
Insurance Corporation (PDIC). The theme of the Conference was “Raising
Public Awareness on Deposit Insurance” and it aimed to harness
information, insights, practices and other knowledge resources in the
communication field toward effective public awareness programs
consistent with the IADI Core Principles. As such, the Conference
provided a venue to encourage the exchange of experiences, challenges
and lessons learned in developing and implementing effective public
awareness programs among deposit insurance agencies. Amongst the
delegations participating were those from India, Indonesia, Japan,
Kazakhstan, Korea, Malaysia, Mongolia, Philippines, Russia, Singapore,
Chinese Taipei and Thailand, and included specially invited communication
experts and deposit insurance practitioners involved in public
awareness programs.
Annual EARC meeting and Seminar
The Deposit Protection Agency of the Kyrgyz Republic had the privilege
to host the
9th Annual Meeting of the Eurasia Regional Committee(EARC)
and International Seminar “Effective Deposit Protection Schemes and
Crisis Management” between 30 June & 2 July 2016 in Bishkek,
Kyrgyzstan. The opening of the Seminar was held in Bishkek on 30 June
and the Seminar continued on the coast of Issyk-Kul Lake. All EARC
members participated in the program, with over 60 attending the
Seminar including IADI jurisdictions outside the EARC. Sessions of the
Seminar included the following topics: Effective mechanisms and tools
for sufficiency of the Fund & emergency sustainability of the Fund and
its liquidity; Involvement of Deposit Insurers in Crisis Management
and his preparedness; Role of the Deposit Insurer in Resolution
Processes of troubled banks and use of Funds; Challenges faced by
Deposit Insurers in line with the last changes in the banking sector
in EARC countries during the financial crisis.
Five Councilmembers’ terms in their deposit insurance organisations
concluded since December 2015, thus ending their term on the IADI
Executive Council:
Jerzy Pruski, former President of the Management
Board, Bank Guarantee Fund, Poland, and former IADI President and
Chair of the EXCO;
Arjoon Harripaul, former General Manager, Deposit
Insurance Corporation, Trinidad and Tobago and Caribbean Regional
Committee (CRC) Chairperson;
María Inés Agudelo, former Managing Director, Fondo
de Garantías de Instituciones Financieras (FOGAFIN), Colombia, and
Vice Chair of the EXCO;
Jumana Hamed, former Director General of Jordan
Deposit Insurance Corporation (JODIC) and Middle East and North Africa
(MENA) Regional Committee Chairperson, and
Jasbir Singh, Executive Director, Deposit Insurance
and Credit Guarantee Corporation, India, and IADI Audit Committee
Chairperson.
Jerzy Pruski
Arjoon Harripaul
María Inés Agudelo
Jumana Hamed
Jasbir Singh
The participation of these individuals in the leadership of IADI will
be missed. Each has served diligently to advance the Association’s
mission and objectives. We will formally recognise them at the 15th
IADI AGM. We welcome their replacements and look forward to working
together.
The announcement for submitting an Expression of
Interest (EOI) amongst the Designated Representatives to serve on the
Executive Council, issued on 19 July, outlines the process for
candidates wishing to stand for election. Candidates submit
Expressions of Interest no later than 9 September 2016. The overview
of the Expressions of Interest received is posted on the IADI internal
website 30 days prior to the election. The election will be presided
over by the Secretary General via secret balloting at the AGM and the
results announced during the AGM on 27 October 2016.
In order to ensure widespread representation of
membership in the Council, Designated Representatives of all IADI
Members are welcome to stand for 2016 Election. Due to the expiry of
Councilmembers’ terms, and the limit on participation on the EXCO of
six years (as per the Association’s By-Laws), there will be seventeen
(17) positions vacant at this year’s election.
to see the current
composition of IADI Executive Council.
to see the
announcement.
DIO Awards Process
Each year, on the occasion of its Annual General
Meeting, IADI confers the honour of the Deposit Insurance Organisation
(DIO) Awards. Except for the current award recipients, all IADI
Members are eligible to self-nominate for awards in three categories,
which are:
Achievement in Banking Resolutions &
Payouts – under which IADI recognises
a significant achievement of a DIO that handled or experienced the
resolution and/or payout of one or more failed financial
institutions
Core Principles & International Participation -
in recognition of efforts made by the DIO to comply with the
Core Principles by carrying out evaluations of compliance or
making modifications to ensure conformity with the CPs, as well
as the organisation’s international activities
Deposit Insurance System Improvement -
which acknowledges the substantial improvements an organisation
implemented to enhance its efficiency, broaden their mandate and
powers or improve compliance with international best practices
Additionally, an IADI Member with outstanding
achievements in, and self-nominated for, all three categories may be
granted the
Deposit Insurance Organisation of the Year Award.
The recipients of the DIO Awards in 2015 (who
shall also form part of the Awards Committee for 2016) were:
Award Recipient for Banking Resolution & Payouts-
Kazakhstan Deposit Insurance Fund
Award Recipient for Core Principles and International
Participation- Korea Deposit Insurance Corporation
Award Recipient for Deposit Insurance System
Improvements- Deposit Protection Corporation (Zimbabwe)
DIO of the Year Award Recipient- Deposit
Insurance Agency (Russia)
for the full list of DIO Awards recipients
This year the DIO Award process will begin with an official call for
self-nominations, sent out to IADI Members before the AGM. Members are
encouraged to submit a self-nomination for an Award in any of the
categories, along with any supporting documents, to the Secretary
General within the stipulated deadline.
An Awards Committee will be formulated to review nominations and
select the recipient in each category and, if any, the recipient of
the DIO of the Year Award. Pursuant to the Criteria and the Selection
Process, the Committee will consist of the Membership and
Communications Committee (MCC) Chairperson, the Secretary General and
representatives of the Members who received the DIO Awards in the
prior year. The process will culminate at the Annual General Meeting
on 27 October 2016 with the announcement of recipients of the Awards.
Full details of the Awards, including nomination instructions,
selection criteria and process, scoring sheets and the Awards
timeline, will be sent to all Members with the official call for
self-nominations in August 2016.
Developments
of Advancing the Core Principles for Effective Deposit Insurance Systems
Approval of the Updated Handbook for Assessment of Compliance
with Revised Core Principles
IADI recently published the Updated Handbook
for Assessment of Compliance with the Revised Core Principles
(Handbook) following approval by the Executive Council. The
Handbook, originally published in December 2010, is a resource
designed to provide additional guidance for assessing a
jurisdiction’s compliance with the Core Principles.
As was the case with the original Core
Principles, although the original Handbook had served its purpose
well, lessons learnt from the recent financial global crisis and from
the experience of using the Handbook in instances such as in Colombia
and the United States (and, more recently, in Kosovo), it was felt a
revision of the Handbook would be appropriate. Thus, in late 2014,
under the leadership of David Walker and Vijay Deshpande, a small
drafting team reviewed and revised the Handbook to make it consistent
with the revised Core Principles and Essential Criteria approved by
IADI EXCO in October 2014. The drafting team members included staff
from the Canada Deposit Insurance Corporation (CDIC) , the Instituto
para la Protección al Ahorro Bancario (IPAB) of Mexico and the Federal
Deposit Insurance Corporation (FDIC) of the US, working together to
try to provide more detailed guidance for the assessors by suggesting
appropriate compliance ratings in various situations. The Core
Principles Steering Committee (comprised of 26 IADI Members, including
the Chairperson, David Walker) provided critical input to the updating
of the Handbook.
The drafting team worked with
representatives of the FSB, World Bank and the International Monetary
Fund to reach consensus and secure a recommendation for its use by
their respective organisations. The Updated Handbook now also includes
a more detailed explanation of the actual assessment process and
provides a template for the compliance assessment report. As one
Member stated, “The Handbook is far more comprehensive, clearer and
instructive than the previous one was”, and is expected to be helpful
in conducting the Financial Sector Assessment Program (FSAP) reviews
and technical assistance, in addition to the self-assessment of
compliance.
IADI wishes to thank all individuals and
organisations that have contributed to the Updating of the Handbook.
for a link to the Revised Core Principles and Updated Handbook
for Assessment of Compliance with the Revised Core Principles.
Following a lengthy review, the Membership and
Communications Committee (MCC) presented their final report on the
Association’s Communication Policy at the recent EXCO Meeting in
Paris.
The work began in 2014 and included an in-person
survey conducted with 23 individuals by members of an MCC Working
Group (WG). The survey assessed the perception of IADI communication
methods, the needs and expectations of IADI stakeholders with respect
to IADI’s communications (in terms of content, layout, accessibility
and delivery method) and to validate and update, as necessary, the
draft Communication Strategy Policy Paper. The interviewees included
Members, Associates, potential Members, Partners, opinion leaders/key
influencers, and academia.
Using the survey findings, the WG updated the
Communications Policy. The Policy, accepted by the MCC, included
near-term steps to refine and standardise internal correspondence,
such as emails, whereas, the long-term steps included improvements in
communication of research and survey data. The Secretariat will work
with the MCC and EXCO to consider the implementation of the
recommendations as outlined in the updated Communications Policy
A new look to IADI’s website will occur soon! Project Manager Jacques
Vilar, from Federal Deposit Insurance Corporation (FDIC), began
working with our new host, Nextron, to design and structure our new
website. The project is due to be completed with the ‘go live’ of the
site in August 2016. The Secretariat would like to express its
gratitude to the IADI Data and Survey Committee, the Bank for
International Settlements' Procurement Team, and, in particular, to
YoungWoon Kim, Jacques Vilar, and Sangjun Lee for their efforts in
this project.
Join us in welcoming IADI’s three new participants and a new partner:
consisting of two new Members, the Cooperative Credit Guarantee Fund
(FGCOOP) of Brazil and Iran Deposit Guarantee Fund; new Associate, the
Auditing Association of German Banks; and new Partner, Consultative
Group to Assist the Poor (CGAP).
Cooperative Credit Guarantee Fund
The Cooperative Credit Guarantee
Fund (or Fundo Garantidor do Cooperativismo de Crédito in
Portuguese, in short, FGCoop) was incorporated in January 2014 with
the aim of protecting depositors in Brazilian financial institutions
participating in the National Credit Cooperative System (NCCS). FGCoop
has a pay-box mandate and is privately administered, with a staff of 7
employees. The coverage limit is 64,000USD per depositor, per
institution, and targets to commence deposit reimbursement within 60
days of an institution’s failure. Its membership of IADI was approved
by EXCO at their meeting in May 2016.
Iran Deposit Guarantee
Fund
The Iran Deposit Guarantee Fund
(or, in Persian/ Farsi, صندوق ضمانت سپرده ها) is a government
legislated and privately administered system, with the mandate of a
pay-box with extended but still limited roles and powers. The Fund was
established under Article 95 of Iran’s Fifth Five-Year Development
Plan (1390- 1394) 2011-2015. The coverage limit is One Billion Iranian
Rials (around 33,000USD) per depositor, per institution, and targets
to commence deposit reimbursement within 20 days after declaration of
the Emergency Committee. With membership of the Fund mandatory, there
are 35 insured institutions. Again, its membership of IADI was
approved by EXCO at their meeting in May 2016.
Auditing Association of
German Banks
The
Auditing Association of German Banks (AAGB) (or, in German,
Prüfungsverband deutscher Banken e.V.), based in Cologne, Germany, was
established in 1969. It is the auditing institution within the deposit
protection system operated by the private banks in Germany, stating as
its main purpose to limit the potential risk for both compensation
scheme (statutory and voluntary) and to prevent recourse to these
pre-emptively, if possible. The AAGB has around 170 member
institutions, all of whom are in the private banking sector. EXCO
approved the AAGB’s application to become an Associate of IADI at
their meeting in March 2016.
Consultative Group to
Assist the Poor
The Consultative Group to Assist the
Poor (CGAP) was established in 1995 by the World Bank and other
donors as a global partnership of 34 leading organisations that seeks
to advance financial inclusion. It develops innovative solutions
through practical research and active engagement with financial
service providers, policy makers, and funders to enable approaches at
scale. Housed at the World Bank, CGAP combines a pragmatic approach to
responsible market development with an evidence-based advocacy
platform to increase access to the financial services the poor need to
improve their lives. CGAP states its mission is to improve the lives
of poor people by spurring innovations and advancing knowledge and
solutions that promote responsible, sustainable, inclusive financial
markets.
The application of CGAP to become a Partner of IADI, formally
approved by EXCO at their meeting in May 2016, highlights the
importance of IADI, and deposit insurance generally, as part of the
efforts to increase financial inclusion. Indeed, the RGC Subcommittee
on Financial Inclusion and Innovation, formerly lead by María Inés
Agudelo of FOGAFIN, Colombia, had the pleasure of Juan Carlos
Izaguirre, Financial Sector Specialist at CGAP, provide a presentation
on Deposit Insurance in the Digital Financial Inclusion Context.
As per the end of June 2016, the IADI membership has reached 106
participants, including 82 Members, 10 Associates and 14 Partners,
placing the Association in an ever stronger position to fulfill its’
vision of sharing deposit insurance expertise with the world.
15th IADI Annual General Meeting and Annual Conference
entitled Gearing Up for the Next Crisis 50th Executive Council,
Regional and Standing Committee Meetings
29-31 May 2017 | Basel, Switzerland
To be hosted by the
IADI Secretariat
The International Association of Deposit Insurers (IADI) was
formed in May 2002 to enhance the effectiveness of deposit insurance
systems by promoting guidance and international cooperation. Members
of the IADI conduct research and produce guidance for the benefit of
those jurisdictions seeking to establish or improve a deposit
insurance system. Members also share their knowledge and expertise
through participation in international conferences and other forums.
The IADI currently represents 82 deposit insurers. The IADI is a
non-profit organisation constituted under Swiss Law and is domiciled
at the Bank for International in Basel, Switzerland.
9th
DICJ Round Table
.JPG)
