International Conference and IADI Regional Committee Meetings Held in Tbilisi, Georgia on July 4-6, 2024

On July 4-6, 2024, international events were held in Tbilisi, Georgia, including an international conference on “Deposit Insurers and Bank Resolution: Current State and Future Challenges,” the annual meeting of the Eurasian Regional Committee (EARC), and a meeting of the European Regional Committee (ERC) of the International Association of Deposit Insurers (IADI). The international events were organized by the International Association of Deposit Insurers jointly with the Deposit Insurance Agency of Georgia.

The conference was attended by representatives of deposit insurers from 30 countries. During the conference, issues of bank resolution were examined, presented through the practical application of approaches in the bank restructuring process and the participation of deposit insurers in the decision-making by supervisory authorities of the member countries of the IADI Eurasian and European Regional Committees. Speakers from deposit insurance (guarantee) organizations of Austria, Azerbaijan, Germany, Kazakhstan, Turkey, Georgia, and Poland shared their experience and held discussions on the given topic.

At the meeting of the European Regional Committee, participants discussed the action plan for 2024-2026.

At the annual meeting of the Eurasian Regional Committee, reports were heard from the heads of deposit insurance organizations of the Republic of Armenia, the Republic of Kazakhstan, the Kyrgyz Republic, the Republic of Uzbekistan, Georgia, Turkey, and Mongolia on the development of deposit insurance systems in these countries.

Hermine Harutyunyan, Director of the Deposit Guarantee Fund of the Republic of Armenia, Kadyrbek Bukuev, Executive Director of the Deposit Protection Agency of the Kyrgyz Republic, and Bota Akbayeva, Deputy Chairman of the Kazakhstan Deposit Insurance Fund, informed the participants about the key changes in their organizations’ activities during Q2 2024.

Hermine Harutyunyan from the Fund of Armenia also presented information on legislative changes initiated by the Central Bank of the Republic of Armenia related to the introduction of new mechanisms for resolving insolvent banks and the role of the Fund of Armenia in the resolution process.

At the end of the Eurasian Regional Committee meeting, a ceremonial handover of the symbol took place: the honor of organizing the next committee meeting in 2025 was granted to the Kazakhstan Deposit Insurance Fund.

During the international events on July 5, 2024, several memorandums of understanding and cooperation were signed: between the Deposit Protection Agency of the Kyrgyz Republic and the Deposit Insurance Agency of Georgia, and also between the Deposit Protection Agency of the Kyrgyz Republic and the Savings Deposit Insurance Fund of Turkey. The purpose of signing the memorandums of understanding and cooperation is the exchange of information in the field of deposit protection, strengthening cooperation, and conducting joint work with IADI members.

For reference: The International Association of Deposit Insurers (IADI) is a global forum where deposit insurance (guarantee) organizations, as well as other participants in financial stability systems and international financial institutions, work together to promote best practices in depositor protection, bank insolvency resolution, and financial stability. It currently includes 98 members (deposit insurers), 11 associates (central banks and other national authorities), and 17 partners (non-profit national and international organizations). The Kazakhstan Deposit Insurance Fund has been a member of IADI since 2003, the Deposit Protection Agency of the Kyrgyz Republic since 2013, and the Deposit Guarantee Fund of Armenia since 2022.