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- From May 9th (Wed) to 11th (Fri), the KDIC hosted the 2012 KDIC International Seminar on sharing experience in
implementing an integrated deposit insurance system on the second floor of the KDIC Building.
Beside KDIC staff, the seminar was attended by 21 representatives from the Nigeria Deposit Insurance
Corporation (NDIC) and the Central Deposit Insurance Corporation (CDIC) of Taiwan as speakers and
discussants.
* 16 delegates from the NDIC including Dr. Hassan Adamu(Chairman), Mr. Umaru Ibrahim(CEO), and Mr. Ayo
Adeseun(Senator), and five delegates from the CDIC including Mr. Robert Chen(Executive Vice President)
Following the adoption of the deposit insurance system in 1996, Korea implemented an integrated deposit
insurance system in 1998 that encompasses all financial sectors from banking, to financial investment and to
insurance. The deposit insurance system played a key role in successfully handling two financial crises and
is now attracting increasing attention from the international community.
The KDIC led international efforts to create the Subcommittee on Integrated Deposit Insurance Systems within
the International Association of Deposit Insurers. The KDIC was named Subcommittee Chair in October 2011
and Nigeria and Taiwan are both members of the Subcommittee.
At the seminar, discussions were held to gain an understanding about Korea's integrated deposit insurance
system, how the deposit insurance systems in Nigeria and Taiwan work and to explore ways to increase
cooperation in the future. In addition, CDIC delegates stayed for one more day to have a further in-depth
discussion about the KDIC's system.
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