Ramallah Nov. 08th, 2016
On October 27, 2016 during the 15th Annual Conference for Deposits Guarantors held in Seoul, Korea, the Palestine Deposit Insurance Corporation (PDIC) was elected as the representative of the Middle East and North Africa at the Executive Committee of the International Association of Deposit Insurers.
PDIC was elected to be a member of the Executive Committee of the International Association from amongst 100 members, whose prime responsibility is to update and develop the policies of the International Deposit Insurance System. This membership was granted in recognition of PDIC’s vision and role in enhancing banking and financial stability in Palestine by protecting bank depositors, particularly small ones, and ensuring a sound banking system. This will certainly improve banking efficiency and rejuvenate economic activity at large; the scheme will serve to avert bank failure and crises in future.
PDIC’s general manager, Mr. Zaher Hammuz, declared that he was delighted with this success, which will positively impact corporate businesses, bolster the role of guaranteed deposits (at local, regional and international levels) and heighten the confidence in the Palestinian banking system at large.