Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan's Deposit Guarantee Agency has proposed establishing formal cooperation with Germany's Compensation Scheme of German Banks (EdB) following discussions on deposit protection practices during the 25th Annual General Meeting of the International Association of Deposit Insurers (IADI) in Berlin.
A delegation from the Uzbek agency met with EdB management for the first direct talks between the two organisations.
The discussions focused on Germany's experience in organising compensation payments to depositors, investing deposit guarantee fund resources and applying risk-based contribution systems.
The two sides also examined approaches to stress testing.
EdB representatives shared their experience of compensating more than 20,000 depositors following the collapse of Greensill Bank in 2021.
Following the meeting, Uzbekistan's Deposit Guarantee Agency proposed signing a memorandum of cooperation with EdB.
The proposed agreement would provide for the exchange of information and practical experience, as well as professional development opportunities for specialists.
Representatives of the Uzbek agency also attended a meeting of the IADI Executive Council held as part of the event.
The original statement identified it as the council's 86th meeting.
