Fund attended the IADI AGM in Boston, USA
The delegation of the Fund of Guarantee Citizens' Deposits in Banks led by the Director of the fund Nodir Abbosov and Deputy Chairman of the Central Bank Abrorkhuja Turdaliev attended the Annual General Meeting of IADI on 24-29 September in Boston, USA. Fund also attended EARC and APRC meetings as well as the annual conference as a part of the AGM program.
Annual general meeting
During the Annual General Meeting, significant internal changes to the International Association of Deposit Insurers were discussed. Representatives from the fund shared their opinions and expressed their support to the president of the Association and its members.
EARC
The meeting started with members reporting recent changes and developments in the deposit insurance system in their countries. The fund shared its recent activities, achievements, and future action plans which were warmly received by other participants. At the end of the meeting, a topic of potential changes to the statute and the structure of IADI was raised during which the Fund expressed its position toward the changes which was supported by other members.
APRC
Representatives of the Research Technical Committee and Training and Assistance Technical Committee provided reports on the progress of the committees in regard to making changes and amendments that would assist APRC committee members. Updates on strategic priorities and action plans of APRC were discussed followed by free discussions between representatives of deposit insurers.
Annual conference
This year’s annual conference was dedicated to the topic of “Successfully Managing Systemic Risk: Deposit Insurance in a Turbulent World”. The conference started with a presentation by Daniel Tarullo, a Harvard Law professor, about US bank supervision and deposit insurance. After a small coffee break, panel discussions among IAID members provided various opinions about lessons after the recent banking turmoil, the need to extend prudential regulations, and the selection of optimal resolution tools in response to the type of bank failure.
Furthermore, Deputy Chairman of the Central Bank Abrorkhuja Turdaliev and Director of the Fund of Guarantee Citizens’ Deposits in Banks Nodir Abbosov had private meetings with representatives of deposit insurance organizations from Turkey, Azerbaijan, Kazakhstan, Georgia, India, South Korea, Croatia and Hungary.
Meetings involved the exchange of experience, recent developments in deposit insurance, potential study visits to each other’s organizations, joint workshops and seminars, and cooperation strengthening in the form of MOU (Memorandum of Understanding). Fund of Guarantee Citizens’ Deposits in Banks (FBOKF) and Savings Deposit Insurance Fund (SDIF) from Turkey took advantage of the IADI AGM event to sign an MOU on 27 September in Boston, USA.
