Ever since its establishment in 1985, CDIC has endeavored to promote the deposit insurance practice in Taiwan, assist the execution of monetary supervisory mechanism, and stabilize financial system at home. The celebration for the 20th anniversary was held on the 12th floor of the Grand Hotel in the morning of September 27 2005.
In order to safeguard the benefits of the depositors, to encourage savings, to maintain credit order and to promote healthy development of the financial operations, relevant laws and regulations were formulated. CDIC was thus set up jointly by the Ministry of Finance and the Central Bank. CDIC since its establishment has been regarded as the most competent “Financial Fireman” in preventing the chain reaction of the run on banks. The mandatory insurance system was also implemented in 1999 to further consolidate the warranty for the depositors’ interests.
CDIC is also dedicated in accessing to international connections. In May 2002, the organization has become the founding member of IADI, an international deposit insurance organization founded in May 6 2002 at Basel, Switzerland. The Objects of IADI are to contribute to the stability of financial systems by promoting international cooperation and to encourage wide international contact among deposit insurers and other interested parties. Currently there are more than 50 member countries in IADI.
CDIC is honored to be recommended by IADI to host its 4th Annual General Meeting and Conference in conjunction with its 20th Anniversary. The First International Deposit Insurance Exhibition is also held at the same time on the 12th Floor of the Grand Hotel. A total of 32 deposit insurance institutions will participate in the exhibition starting from September 27 to 29. The Exhibition is open free to the general public.
Dr. Lai In-Jaw, Honorable Grand Justice of the Judicial Yuan, delivered his welcome remarks at the ceremony. Ms. Hou Ching-Ying, Chairperson of the Board of Taiwan Academy of Banking and Finance, and Mr.Cheng Shen-Chih, Chairman of The Bankers Association of the Republic of China, were the presenters for the Present and Former Chairmen and Presidents Contribution Awards. Mr.Tsay Chin-Tsair, Chairman of the Board of CDIC and Mr. Johnson Chen, President of CDIC, presented” Collaborator Appreciation Award” to CDIC's MOU partners and sponsors of this event, including National Deposit Insurance Fund of Hungary, Korea Deposit Insurance Corporation, Korea Asset Management Corporation, The Bankers Association of the Republic of China and The Bankers' Association of Taipei as well as the Gold Medal Distinguished Awards for 20 years of services to the CDIC colleagues. VIPs participating in the ceremony included senior government officials such as Vice Chairperson Susan Chang of the Financial Supervisory Commission and former Ministers of Finance Mr. Lee Yung-San and Mr. Yen Ching-Chang. Also, Mr. Jean Pierre Sabourin, President and Chair of IADI, Mr. Shunichi Nagata, Governor of DICJ, Mr. Choi Jang-Bong, Chairman and President of KDIC, and 150 international delegates from more than 50 countries and regions with a total of 500 guests participated in this ceremony. These events will do much to enhance Taiwan's image and professional position in the international community.
It is our deepest appreciation to all parties which have supported CDIC over the past years. In the future, the CDIC will continue building on its existing foundation and seeking constant improvement with the aim of fulfilling the policy goals of protecting the interests of depositors and assuring financial order through the provision of deposit insurance.