State deposit insurer Philippine Deposit Insurance Corporation (PDIC) has strengthened its international footprint by signing a bilateral Memorandum of Understanding (MOU) with the Deposit Protection Agency of the Kyrgyz Republic (DPAKR). The agreement formalizes collaboration and knowledge exchange to enhance deposit insurance systems and cross-border financial safety nets.
The MOU was signed by PDIC President and CEO Roberto B. Tan and DPAKR Executive Director Kadyrbek Bukuev on the sidelines of the International Association of Deposit Insurers (IADI) 85th Executive Council meeting in Sardinia, Italy.
“This partnership reflects our commitment to continuous learning, international cooperation, and the pursuit of excellence in deposit insurance,” said PDIC President Tan. “By sharing knowledge and experiences with our counterparts, we strengthen our capacity to respond to emerging challenges, adopt leading practices, and better fulfill our mandate of protecting depositors and supporting financial system stability.”
The agreement establishes a framework for sustained engagement, technical exchange, and crisis preparedness between both jurisdictions across critical operational areas:
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Core Deposit Insurance & Operations: Bank resolution, receivership and liquidation, risk management, premium assessment, and funding arrangements.
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Infrastructure & Compliance: Information technology for database administration, legal and administrative processes, and public awareness initiatives.
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Standards & Best Practices: Joint evaluation of international standards, global guidance implementation, and cross-border policy frameworks.
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Knowledge Exchange: High-level executive visits, bilateral technical meetings, joint participation in international conferences, and collaborative research on shared interests.
As global financial systems become increasingly interconnected, the PDIC–DPAKR partnership aims to bolster institutional resilience, foster operational innovation, and reinforce public confidence in both safety net frameworks.
With this signing, the Kyrgyz Republic becomes the latest addition to the PDIC’s growing network of bilateral partners, joining deposit insurance agencies from Germany, Indonesia, Japan, Kazakhstan, Malaysia, Mongolia, Russia, South Korea, Thailand, the United Kingdom, the United States, and Vietnam. Through these global strategic alliances, the PDIC continues to align Philippine deposit insurance practices with international benchmarks.
