Press Releases

Dept.	International Affairs Team	Date	21/11/2011
File	Press release_111123_Final.pdf
Subject	KDIC Signed an MOU with the Deposit & Credit Guarantee Corporation (DCGC) of Nepal on November 20, 2011
KDIC Signed an MOU with the Deposit & Credit Guarantee Corporation (DCGC) of Nepal on November 20, 2011 The Korea Deposit Insurance Corporation (KDIC) signed an MOU with the Deposit & Credit Guarantee Corporation (DCGC) of Nepal on November 20, 2011. Under the MOU, the KDIC will provide policy consultation to help the DCGC to legislate a deposit insurance act and, in the long term, establish a separate deposit insurance agency. To ensure the successful implementation of the deposit insurance scheme, which was adopted last year, the DCGC has been actively pursuing cooperation with foreign deposit insurers. With this MOU, its efforts to introduce a more advanced deposit insurance system in Nepal will gain momentum. After the MOU signing ceremony, there was a meeting between the two organizations’ Chairmen –Mr. Bhaskar Mani Gnawali of the DCGC and Mr. Seung-Woo Lee of the KDIC. At the meeting, Mr. Lee stressed the importance of cooperation between the organizations and said that the KDIC was ready to provide any help necessary to ensure the implementation of an international standard-compliant deposit insurance system in Nepal. The cooperative relationship between the KDIC and the DCGC is also expected to help foster an economic partnership between Korea and Nepal.

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