PH, Indonesia renew agreements to strengthen cross-border cooperation

Key initiatives include expert and staff exchanges and bilateral meetings.

The Philippine Deposit Insurance Corporation (PDIC) and Indonesia Deposit Insurance Corporation (IDIC) have signed a Memorandum of Understanding to renew their cross-border agreements to strengthen their mandates of depositor protection and financial stability in both countries. 

The renewed partnership establishes a framework for mutual knowledge-sharing and collaboration across critical areas, including deposit insurance, receivership and liquidation, risk management, and public awareness initiatives. 

Key initiatives include the exchange of information, prompt responses to technical inquiries, expert and staff exchanges, bilateral meetings, and joint research projects related to deposit insurance. 

Both PDIC and IDIC are members of the International Association of Deposit Insurers, which comprises 99 member institutions worldwide.