- MOU Renewal with the Russian Deposit Insurance Agency in Moscow, Russia on March 15, 2012
The Korea Deposit Insurance Corporation (KDIC) signed a renewed* memorandum of understanding (MOU)
with the Russian Deposit Insurance Agency (DIA) on March 15 (Thursday) in Moscow, Russia.
* The MOU was renewed because its effective term (three years) came to an end. In 2009 when the MOU was
originally signed, the General Director of the DIA visited the KDIC for the MOU signing ceremony.
The KDIC has kept close ties with the DIA since the DIA's establishment in 2004. Based on such continued
cooperation and friendship, the two organizations decided to sign an MOU in 2009 to enhance information and
personnel exchanges. The renewal of the MOU is expected to help both organizations to further develop their
respective deposit insurance schemes.
In particular, given Russia's recent foreign policies focusing on better relations with countries in the Asian
Pacific region - for example, Russia is the host of the 2012 APEC Summit-, greater exchanges between the
KDIC and the DIA based on the renewed MOU will pave the way for increased cooperation* between the two
countries' financial sectors.
* The DIA and the KDIC are scheduled to host the IADI Asia Pacific Regional Committee meeting in June, 2012
and during the first half of 2013, respectively. The two will cooperate closely with each other to successfully
hold the meetings.
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