A webinar themed “Preparing Our Path to the New Normal” was held on 9 June 2020 among more than 160 senior officials and staff from 13 deposit insurers across the Asia Pacific region. The webinar was jointly organised by the Korea Deposit Insurance Corporation (KDIC) and Perbadanan Insurans Deposit Malaysia (PIDM), in collaboration with the International Association of Deposit Insurers (IADI) and The World Bank Group (World Bank).
Speakers from IADI, the World Bank, Bank for International Settlements (BIS) and deposit insurers from Asia Pacific discussed current developments and new perspectives on the financial sector and implications on deposit insurers going forward.
In summary, the webinar examined the international policy responses by deposit insurers to the pandemic crisis and priority areas going forward such as crisis management, public awareness and depositor reimbursements. Emerging trends were also explored, including the new retail banking landscape and attendant policy options for deposit insurance. As Malaysia and other countries approach the phase of crisis recovery, deposit insurers have continued to strengthen operational readiness in technology and crisis communications, as well as through on-going reviews of policy measures.
The webinar is part of continuing efforts by the Research Technical Committee of the IADI Asia Pacific Regional Committee (APRC RTC) to support deposit insurers in promoting financial stability and maintaining public confidence in deposit insurance systems across the Asia Pacific region.
The APRC RTC is chaired by Rafiz Azuan Abdullah, Chief Executive Officer of PIDM, as part of the IADI APRC chaired by Seongbak Wi, Chairman and President of KDIC.
Top left, Mr. Seongbak Wi (KDIC), top right, Mr. Rafiz Azuan Abdullah (PIDM), bottom left, Mr. David K. Walker (IADI), bottom right, Dr. Hassan Zaman (The World Bank Group)
PIDM protects your deposits in the bank as well as your takaful and insurance benefits in the unlikely event of a failure of a member bank or a takaful operator / insurance company.