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The seminar was participated by Mr. Pham Bao Lam –Chairman of the Board of Directors (BoD) of the DIV; Mr. Ngo Quang Luong –Executive Member of the BoD of the DIV; Ms Pham Bao Khanh – Deputy Director of the DIV and heads and representatives of departments at the DIV’s Headquarter and regional branches.
From Indonesian Deposit Insurance Corporation (IDIC), the participants were Mr.Purbaya Yudhi Sadewa – Chairman of the IDIC and heads, representatives of the Bank Resolution Department, Claim Settlement Department and International Cooperation Department.
Speaking at the seminar, Mr. Pham Bao Lam – Chairman of the BOD of the DIV stated that the 2017 Law on amending, supplementing some articles of the Credit Institution Law assigns the DIV the task of participating further in the restructuring of weak CIs, especially in special lending, buying long- term bonds and cooperating with Special Control Boards and the Cooperative Bank to assess the assessments of CI recovery plans and build CI bankruptcy plans. Against that backdrop, the DIV has further promoted training its staff on special control of CIs.
Mr. Pham Bao Lam also said that, being aware of the importance of international experience as a useful source of information, the DIV had invited speakers from IDIC to make presentations on resolution and preparation for reimbursement within the framework of the training course. However, due to the complicated development of the COVID-19 pandemic in many countries, including Indonesia, the seminar was held online.
On this occasion, Mr. Pham Bao Lam congratulated Mr.Purbaya Yudhi Sadewa on getting promoted to the Chairman of IDIC and thanked him and IDIC speakers for sharing their valuable experience with the DIV. He hoped that the two institutions would continue to maintain this good cooperation in the coming time.
The seminar focused on 2 key issues, namely: the process of bank resolution and the process of data reconciliation and verification for reimbursement.
Regarding the process of bank resolution, key topics discussed at the seminar include the legal framework of bank resolution in Indonesia, bank resolution process and options. Concerning reimbursement, IDIC speakers shared in detail the requirements of reimbursement, the process of data reconciliation and verification for reimbursement. The seminar was held in a lively and positive way with a lot of questions from the DIV and detailed answers from IDIC.
IDIC is an organization with an advanced and modern model of operation in the Asia-Pacific region, and a lot of experience in resolution, liquidation, reimbursement etc.
Since IDIC and DIV signed the Memorandum of Understanding in April 2016, the two sides have organized many bilateral cooperation programs, working sessions, seminars and field surveys to share and exchange experience in deposit insurance.
