The Philippine Deposit Insurance Corporation (PDIC) has signed a landmark cooperation agreement with the Deposit Insurance Corporation of Mongolia (DICoM), marking a significant step in expanding international collaboration within the deposit insurance sector.
The Memorandum of Understanding (MOU), the first between the two agencies, was formalised in November 2025 during the International Association of Deposit Insurers (IADI) Annual Conference in Lisbon. The agreement is set to run for five years, with the possibility of extension for an additional five years upon mutual consent. It was signed by PDIC President and CEO Roberto B. Tan and Amar Lkhagvasuren, board member of Mongolia’s National Deposit Insurance Committee.
Under the terms of the MOU, PDIC and DICoM will exchange expertise and collaborate on essential deposit insurance functions. These include bank resolution, receivership and liquidation procedures, risk management, premium assessment, and fund management.
Additionally, the agreement encompasses cooperation in information technology systems for database administration, legal and administrative processes, and public awareness programmes aimed at depositors. It also facilitates dialogue on the implementation of international deposit insurance standards, thereby enhancing both agencies’ capacity to respond effectively to emerging financial risks.
The partnership further provides for joint initiatives such as research projects, senior-level study visits, technical exchanges, and training programmes, promoting knowledge sharing and capacity building across borders.
PDIC’s growing network of international partnerships now spans multiple countries, reflecting its commitment to global collaboration in strengthening financial stability.
Existing PDIC Cooperation Agreements
| Country | Partner Agency | Focus Areas |
|---|---|---|
| Germany | Deposit Protection Fund | Risk management, bank resolution |
| Indonesia | Indonesia Deposit Insurance Corp. | Fund management, premium assessment |
| Japan | Deposit Insurance Corporation | Technical exchanges, training programmes |
| Kazakhstan | Kazakhstan Deposit Insurance Fund | Receivership, liquidation |
| Malaysia | PIDM | IT systems, public awareness |
| Russia | Agency for Deposit Insurance | Bank resolution, research projects |
| South Korea | KDIC | Risk management, training |
| Thailand | DSI | Joint study visits, technical exchanges |
| United Kingdom | FSCS | Public awareness, fund management |
| United States | FDIC | Bank resolution, technical assistance |
| Vietnam | Vietnam Deposit Insurance | Risk management, premium assessment |
Through these strategic partnerships, PDIC aims to bolster its operational effectiveness, adopt international best practices, and contribute to regional and global financial stability.