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- KDIC provided training sessions to officials of the Deposit Insurance Board of the Tanzanian Central Bank
Dec.22, 2009
The KDIC provided training sessions to two officials of the Deposit Insurance Board (DIB) of the Tanzanian Central Bank from December 7, 2009 to December 17, 2009. The main purpose of the training was to introduce and explain the operation of the Deposit Insurance System of Korea. The trainees attended a total of 18 sessions which covered the management of the deposit insurance fund, the resolution of failed financial institutions and the recovery of injected funds, risk surveillance of insured financial institutions, and investigations. As per the DIB’s request, the KDIC provided an opportunity for the trainees to visit the Financial Services Commission, the Bank of Korea, and Woori Bank to aid their understanding of Korean financial policy and the financial system.
The trainees indicated that the sessions had provided them with useful information on the establishment and operation of a deposit insurer. In addition, they requested our assistance by seconding KDIC staff to Tanzania, if needed, to assist them with their planned establishment of a deposit insurer within the next 3 years.
The KDIC was chosen as training venue by the Tanzanian government and financial support for the visit was provided by the World Bank’s Financial Sector Support Project (FSSP). Being chosen as the preferred training venue bears proof of the international recognition we receive as a deposit insurer that has been successful in overcoming two financial crises. The KDIC will continue to actively involve itself in sharing Korea’s experience in financial restructuring with the international society.
In addition, by assisting with the Tanzanian government’s efforts to establish a financial safety net, the KDIC is contributing to the Korean government’s efforts to strengthen our global leadership by helping to bridge the gap between developed and developing countries.
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