Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan's Deposit Guarantee Agency and Italy's Interbank Deposit Protection Fund (FITD) have signed a memorandum of understanding to strengthen bilateral cooperation in depositor protection and improve national deposit guarantee systems.
The agreement was signed on 27 October in Berlin during the 25th Annual General Meeting of the International Association of Deposit Insurers (IADI).
The memorandum establishes a framework for cooperation between the two institutions, focusing on the protection of depositors' interests and the development of deposit insurance mechanisms.
Under the agreement, the parties intend to exchange expertise in organizing compensation payments to depositors and improving methods for calculating deposit insurance contributions based on risk levels.
Other areas of cooperation include developing public awareness strategies, sharing experience in investment policy and examining mechanisms for intervention in banking operations.
According to Uzbekistan's Deposit Guarantee Agency, the memorandum is intended to expand international cooperation and facilitate the study of foreign practices in deposit insurance.
The agency said the partnership would also contribute to further improvements in Uzbekistan's national deposit guarantee system.
