Panel Session in Honor of the 20th Anniversary of the Armenian Fund Held in Dilijan July 24, 2025

A panel session on “The Role of the Deposit Insurance (Guarantee) System in Financial Stability” was held in Dilijan, Republic of Armenia, on July 18, 2025. The event was organized by the Deposit Guarantee Fund of the Republic of Armenia and commemorated the 20th anniversary of the establishment of the deposit guarantee system in Armenia. Representatives from ten countries participated in the event.

• Hermine Harutyunyan, Director of the Deposit Guarantee Fund of the Republic of Armenia, and Martin Galstyan, Chairman of the Central Bank of the Republic of Armenia, opened the session and welcomed its participants.
• Andrey Melnikov, General Director of the State Corporation “Deposit Insurance Agency” of the Russian Federation, delivered a report on the role of the deposit insurance system in maintaining financial stability in Russia. He discussed legislative innovations related to increasing the maximum insurance coverage for long-term deposits.
• Youry Lipnitsky, Deputy Director General of the Agency of Deposit Compensation of the Republic of Belarus, spoke about the Agency’s role in the system of maintaining the state’s financial stability.
• Bota Akbayeva, Deputy Chairperson of the Kazakhstan Deposit Insurance Fund, discussed the role of the deposit insurance system in maintaining financial stability in the Republic of Kazakhstan, particularly the impact of the reform of the mechanism for setting premium rates for member banks on deposit interest rates.
• Levan Todua, Head of the Deposit Insurance Agency of Georgia, presented information to the session participants about the work of the Deposit Insurance Agency and the deposit market in Georgia.
• András Komár, Managing Director of the National Deposit Insurance Fund of Hungary, reported on the interaction between the deposit insurer and other participants in the financial safety-net. A document from the European Forum of Deposit Insurers (EFDI), co-authored by Mr. Komár, was presented on this topic.
• Representatives from the Training and Research Center of the Central Bank of the Republic of Armenia presented the results of a study on the role of the deposit guarantee system during periods of crisis. The experience of Armenia demonstrates that previous crises have a significant impact on the savings behavior of depositors.
• Michael Zanon, CEO of the Italian fintech company DIAMAN Tech, gave a presentation on integrated stress tests and simulation models for enhancing the strategic resilience of the deposit insurance system’s investment portfolio. He emphasized the critical importance of the resilience of the deposit insurer’s investment portfolio and the need for a flexible and scalable platform that combines operational limit controls with an accounting-based valuation mechanism.