To enhance the sharing of experiences and the exchange of information, the Central Deposit Insurance Corporation (CDIC) and the Indonesia Deposit Insurance Corporation (IDIC), represented by President Mr. Howard N. H. Wang and Chairman Mr. C. Heru Budiargo respectively, will on May 18, 2011 in Jakarta, Indonesia be signing a letter of exchange to formally establish a cooperative relationship between the two institutions.
The Indonesia Deposit Insurance Corporation was established by the Indonesian Government on September 22, 2004 and formally commenced operations on September 22, 2005 as the sole institution for handling deposit insurance in Indonesia. Since its establishment, the Indonesia Deposit Insurance Corporation has made every effort to assist the Indonesian government in stabilizing financial order, in handling problem financial institutions and in mitigating the impact of the financial crisis. It has performed excellently in helping stabilize the Indonesian financial system.
The Central Deposit Insurance Corporation and the Indonesia Deposit Insurance Corporation are both members of the International Association of Deposit Insurers (IADI). Through the platform provided by this organization, both have already established a friendly cooperative relationship based on mutual assistance. In particular, due to their geographical proximity, they are both members of IADI's Asia-Pacific Regional Committee (APRC). In recent years, by together conducting APRC’s business, exchanges between the two sides have increased greatly. As a result, a cordial and deep cooperative relationship has been forged between the two of them.
In the future, the Central Deposit Insurance Corporation will continue, together with the Indonesia Deposit Insurance Corporation, through mutual exchanges of information and personnel, to provide professional expertise, so that both Taiwan and Indonesia may become more sophisticated in the realm of deposit insurance, and thereby lay a firm foundation for deposit insurance in the Asia-Pacific region.