JODIC’s Election in the Executive Council of IADI

Jordan, represented by the Deposit Insurance Corporation (JODIC), participated in the activities of the International Association of Deposit Insurers (IADI) which were hosted by the Savings Deposit Insurance Fund of Turkey (SDIF) in Istanbul, Turkey during the period 7-11 October 2019.

The Director General of the Corporation, H.E. Mr. Mu’taz I. Barbour, participated in the meetings of the Executive Council, the Technical Committees, the Council Committees, the 18th Annual General Meeting (AGM), in addition to the meeting of the Middle East and North Africa (MENA) Regional Committee.

He also participated in the 18th IADI Annual Conference titled “Realizing Reforms: What has changed in Deposit Insurance Systems since the Crisis?” The conference featured presentations and panel discussions by senior policymakers, presidents of board of directors, directors general of deposit insurers, and prominent academics on key issues affecting the global economy, financial stability, deposit insurance and bank resolution. The event was attended by approximately (280) participants from all around the world.

During the IADI Annual General Meeting (AGM), the election results for the position of the Executive Council (EXCO) members were announced, Mr. Barbour was elected as a member of the EXCO which consists of 25 members from various regions. The AGM is the supreme authority of the IADI and the Executive Council ensures the sound functioning of the Association. There are currently eight regional committees and four council committees to fulfill the objectives of the IADI in exchanging expertise among deposit insurers, promoting international cooperation and issuing the international best practices represented in the Revised Core Principles for Effective Deposit Insurance Systems, which were issued by the IADI in collaboration with a Joint Working Group including representatives from the Basel committee for Banking Supervision (BCBS), the European Forum of Deposit Insurers (EFDI). The European Commission (EC), the Financial Stability Board (FSB), the International Monetary Fund (IMF), and the World Bank (WB).