For Developing Countries: KDIC Corporates with World Bank for Developing Deposit Insurance System | BusinessKorea

Tuesday, October 17, 2017

The Korea Deposit Insurance Corporation (KDIC) signed an MOU with the World Bank to develop the deposit insurance systems of developing countries.
The Korea Deposit Insurance Corporation (KDIC) signed an MOU with the World Bank to develop the deposit insurance systems of developing countries.
SEOUL,KOREA
22 September 2017 - 10:15am
Jung Suk-yee

The Korea Deposit Insurance Corporation (KDIC) announced on September 21 that it signed an MOU with the World Bank in order to work with the bank in developing the deposit insurance systems and capabilities of developing countries.

The MOU was concluded at the request of Asia-Pacific countries such as Indonesia and the Philippines, which are praising the deposit insurance system of South Korea and its response to financial crises. The countries asked the KDIC, via the World Bank, to share its expertise and knowledge.

According to the MOU, the two organizations are going to launch a series of joint projects in the governments and deposit insurance organizations of the developing countries. The scope of the projects to come includes system consulting, technical support and capability enhancement.

The first collaboration project is scheduled to be launched in Indonesia in November this year. Specifically, a training program will be provided in Jakarta for the Indonesian government and its deposit insurance organization with regard to the disposal of insolvent financial companies and management of distressed assets.

 

 

Categories: 

Copyright 2013 BusinessKorea Co., Ltd.
301 Samdo Building, 12-1
Yeoido-dong, Yeongdeungpo-gu
Seoul, Korea 150-010
Tel: +82-2-578-3220
Fax: +82-2-578-3224
Email: contact@businesskorea.co.kr

 
 

Web design by: