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Manila Bulletin devider Business devider Banking & Finance devider PDIC's Tan recognized with IADI executive council seat

PDIC's Tan recognized with IADI executive council seat

Published Dec 2, 2024 10:33 pm
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Roberto B. Tan

Roberto B. Tan, president and chief executive officer of the Philippine Deposit Insurance Corporation (PDIC), was elected to the Executive Council of the International Association of Deposit Insurers (IADI).

Tan was elected during IADI's 23rd Annual General Meeting in Tokyo, Japan. The election recognized PDIC's growing influence in the global deposit insurance landscape and Tan's contributions to the field.

The PDIC, the Philippines' deposit insurer, is a government agency tasked with protecting depositors by providing deposit insurance coverage and resolving failing banks.

The IADI, established in May 2002 and based in Basel, Switzerland, is a non-profit organization that sets standards for deposit insurance systems and serves as a forum for deposit insurers worldwide to share knowledge and expertise.

The Executive Council is IADI’s policy-making body, supported by five Council Committees and regional committees that discuss topics of specific interest to their regions.

"The representation of the PDIC in the 25-member IADI Executive Council will considerably advance our efforts to strengthen mutual cooperation and assistance among our deposit insurance peers globally," Tan said in the statement.

"This is also timely as we propose reforms to the Philippine deposit insurance system through legislation. Our institutional partnership with IADI has greatly provided resources and contributed to enhancing PDIC’s operational efficiency to ensure that our processes adhere to the Core Principles for Effective Deposit Insurance Systems formulated by IADI,” he added.

The election of Tan to the Executive Council highlights the PDIC's commitment to international cooperation and its efforts to strengthen the Philippine deposit insurance system.

Prior to his election, Tan served as IADI Treasurer for six years.

IADI is currently led by its President and Executive Council Chairperson, Alejandro López, CEO of Seguro de Depósitos Sociedad Anónima (SEDESA, Argentina).

The organization comprises 99 members and 11 associates, which are entities that do not meet full membership criteria but play a role in financial safety nets and have a vested interest in effective deposit insurance systems.

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PDIC president and CEO Philippine Deposit Insurance Corp. Roberto B. Tan
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