| Dept. |
International Affairs Team |
Date |
19/11/2010 |
| File |
KDIC Signed an MOU with the Indonesia Deposit Insurance Corporation (Final).doc
,
IDIC(1).JPG
,
IDIC(2).JPG
|
| Subject |
KDIC Signed an MOU with the Indonesia Deposit Insurance Corporation |
-
- Chairman and President Seung-Woo Lee of the Korea Deposit Insurance Corporation (KDIC) paid a visit to the
Indonesia Deposit Insurance Corporation (IDIC) to meet with Chairman Heru Budiargo of the Deposit Insurance
Committee on November 19 (Friday) in response to an invitation from the IDIC. They discussed how to improve
the deposit insurance systems in their respective countries to effectively deal with the financial crisis and
signed an MOU to facilitate information and staff exchange.
The MOU signing was a result of the agreement between the IDIC and KDIC made during the IDIC delegation’s
visit to the KDIC in April. It is part of the KDIC's support for the Indonesian government's initiative to create and
revise laws and regulations in order to build integrated systems for supervision and deposit insurance, and
ensure successful implementation of those systems in the future.
In his congratulatory remarks and the meeting with the Committee Chairman, Chairman and President Seung-
Woo Lee mentioned the emergence of a new global economic and financial order and ways to enhance ties
between Korean and Indonesian deposit insurers. They stressed the need for ensuring their respective deposit
insurance systems meet international standards and become a more integral part of financial stability. Mr.
Seung-Woo Lee said that the KDIC is developing plans for more substantive exchanges with the IDIC including
short-term training for IDIC staff as part of effort to share its know-how in implementing an integrated deposit
insurance system that includes insurance and securities sectors as well as banking.
With the MOU, the KDIC plans to actively support the IDIC in its efforts to build and run an integrated deposit
insurance system.
Going forward, the KDIC will continue to market Korea's financial infrastructure to emerging nations on the
strength of international recognition of its experiences in overcoming financial crises and implementing an
integrated deposit insurance system. It also plans to increase support for the government's policies to build
partnerships with other countries.
|
;){kind=link}
;){kind=link}
