In order to promote the sharing of experiences and the exchange of information with the Deposit Protection Agency of Thailand (DPA), the Central Deposit Insurance Corporation of Taiwan (CDIC) will on April 9, 2012 in the CDIC auditorium sign a Memorandum of Understanding (MOU) to formally establish a bilateral relationship of cooperation. The CDIC will be represented by its President, Howard N. H. Wang, and the DPA by its President, Mr. Singha Nikornpun.
The Deposit Protection Agency of Thailand was established in August 2008 as the country’s sole agency responsible for deposit insurance pursuant to Thailand’s Deposit Protection Agency Act. The main purpose underlying the DPA’s establishment has been to stabilize the financial system and maintain order, while also strengthening the protection extended to small depositors, in order to achieve the objectives of encouraging saving and enhancing the sound development of the financial sector as a whole.
The DPA and the CDIC have, since becoming members of the International Association of Deposit Insurers (IADI) and through the platform for exchanges that this association has provided, together established an amicable cooperative relationship. In addition, due to their geographical proximity, they have both been members of the IADI’s Asia Pacific Regional Committee, and have together actively promoted the association’s activities as well as the exchange of information in the Asia-Pacific region. As the frequency of such activities has increased, the two sides have forged a strong, cooperative working relationship.
In the future, the CDIC will continue to strengthen cooperation with the DPA in the area of deposit insurance through bilateral exchanges of information and personnel and the provision of professional expertise, with a view to benefiting policies that strengthen the rights of depositors and to maintaining financial order in their respective countries.