PDIC, Kyrgyz Republic advance strategic partnership for depositor protection, financial stability

Building stronger deposit insurance systems through cross-border cooperation. The Philippine Deposit Insurance Corporation (PDIC) sustained its international cooperation efforts with the signing of a Memorandum of Understanding (MOU) with its counterpart from Kyrgyz Republic, reinforcing bilateral ties and strengthening collaboration on deposit insurance policies and best practices. The MOU was formally signed by PDIC President and CEO Roberto B. Tan (left) and Deposit Protection Agency of the Kyrgyz Republic (DPAKR) Executive Director Kadyrbek Bukuev (right) on the sidelines of the International Association of Deposit Insurers (IADI) 85th Executive Council meeting in Sardinia, Italy on June 23, 2026.

State deposit insurer Philippine Deposit Insurance Corporation (PDIC) has strengthened its international engagement by signing a bilateral cooperation agreement with its counterpart in Kyrgyz Republic, the Deposit Protection Agency of the Kyrgyz Republic (DPAKR), marking an important milestone in promoting collaboration and knowledge exchange in deposit insurance and financial stability.

PDIC President and CEO Roberto B. Tan and DPAKR Executive Director Kadyrbek Bukuev forged the partnership through a memorandum of understanding (MOU) signed on the sidelines of the International Association of Deposit Insurers (IADI) 85th Executive Council meeting held in Sardinia, Italy on June 23, 2026.
 
"This partnership reflects our commitment to continuous learning, international cooperation, and the pursuit of excellence in deposit insurance. 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," PDIC President Tan said.
 
The agreement establishes a framework for sustained cooperation between the two jurisdictions, enabling them to share expertise, exchange experiences, and deepen professional engagement in areas that are fundamental to effective deposit insurance systems and crisis preparedness.
 
Through this partnership, the PDIC and DPAKR will collaborate on a broad range of technical and operational areas, including deposit insurance, bank resolution, receivership and liquidation, risk management, premium assessment, funding arrangements, information technology for database administration, legal and administrative processes, and public awareness initiatives.
 
The MOU also provides opportunities for both organizations to exchange perspectives on the implementation and impact of international standards and guidance on deposit insurance, consistent with their respective mandates. By fostering dialogue on evolving global practices, the partnership will support the continued strengthening of institutional capabilities and contribute to the resilience of financial safety net frameworks.
 
As part of the cooperation, the PDIC and DPAKR will hold bilateral meetings on mutually identified areas of expertise, facilitate exchanges during international conferences and senior-level visits, and work together on cross-border issues where appropriate and consistent with their respective legal and regulatory frameworks. Additionally, the agreement allows for discussions on other matters of shared interest that advance their respective mandates.
 
The bilateral agreement underscores the growing importance of international cooperation among deposit insurers as financial systems become increasingly interconnected. By building stronger institutional relationships and facilitating the exchange of practical expertise, the partnership is expected to enhance preparedness, encourage innovation, and reinforce confidence in the financial safety net of both jurisdictions.
 
The PDIC has forged alliances with peers from Germany, Indonesia, Japan, Kazakhstan, Malaysia, Mongolia, Russia, South Korea, Thailand, the United Kingdom, the United States of America, and Vietnam to strengthen technical cooperation. Through these agreements, the PDIC reinforces its commitment to align Philippine deposit insurance practices with global standards.
 
The Philippine Deposit Insurance Corporation (PDIC) was established on 22 June 1963 by Republic Act 3591 to protect depositors and help maintain stability in the financial system. The PDIC is an attached agency of the Bangko Sentral ng Pilipinas and a member of the Financial Sector Forum, the Financial Stability Coordination Council, and the Financial Inclusion Steering Committee.