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International Association of Deposit Insurers (IADI)
IADI was established in May 2002 to enhance the efficiency and effectiveness of deposit insurance systems by promoting guidance and tools that improve the deposit insurance systems of its members and also for the benefit of those jurisdictions seeking to establish or improve a deposit insurance system. This is to be achieved through the international cooperation of IADI members.
Members also share their knowledge and expertise through participation in international conferences, workshops, training programs, seminars and other forums which IADI holds every year.
More About IADI
Members of the International Association of Deposit Insurers (IADI) conduct research, provide technical assistance, and share their experiences in order to enhance and develop deposit insurance systems and practices around the world.
The Bank Deposit Security Fund (BDSF) of Sudan joined IADI in 2005. The General Manager, Dr. Abdel Gadir Mohammed Ahmed Salih, currently serves as the Chairperson of the Middle East and North Africa (MENA) Regional Committee of IADI.
IADI represents deposit insurers from different jurisdictions worldwide. It is a non-profit organization established under Swiss law and is domiciled at the Bank for International Settlements (BIS) in Basel, Switzerland.
IADI operates through a regional organizational structure in which members are divided into eight regional committees:
- Middle East and North Africa (MENA) Regional Committee
- Africa Regional Committee
- Asia and Pacific Regional Committee
- Caribbean Regional Committee
- Euroasia Regional Committee
- Europe Regional Committee
- North America Regional Committee
- Latin America Regional Committee
Members of IADI may participate in more than one regional committee. For example, Sudan leads the Middle East and North Africa Regional Committee while also playing an active role in the Africa Regional Committee. Similarly, Turkey actively participates in the Middle East and North Africa Regional Committee and is also a member of the European Regional Committee.
Islamic Deposit Insurance Group (IDIG)
Sudan has been working with countries that have implemented, or are aiming to implement, Islamic deposit insurance systems to establish and operate the Islamic Deposit Insurance Group (IDIG) under the umbrella of IADI.
One of the main objectives of IDIG is to guide and develop Islamic deposit insurance systems to ensure they operate effectively and efficiently in accordance with Islamic principles. The group develops Islamic principles, standards, and guidance aimed at enhancing the effectiveness of Islamic deposit insurance systems.
In addition to Sudan, the major members of the Islamic Group include:
- Malaysia
- Indonesia
- Turkey
- Jordan
- Morocco
- Kazakhstan
Members of the Islamic Group share their knowledge and experience through participation in the Annual Islamic Seminar, which is hosted each year by one of the member countries. For example, Sudan hosted the seminar in Khartoum from 26 to 28 March 2011.
It is worth mentioning that Sudan is the only member implementing a full-fledged Islamic Deposit Insurance System covering all types of deposits, including current deposits, savings deposits, and investment deposits.
Middle East and North Africa Regional Committee (MENA)
It is worth mentioning that IADI members can join more than one committee. For instance, Sudan leads the Middle East and North Africa regional committee and at the same time playing an effective role in Africa Regional Committee. Turkey not only playing effective role in the Middle East and North Africa regional committee, but also it is a member of the European Regional Committee.
Africa Regional Committee (ARC)
ARC aims to enhance the sharing and exchange of expertise and information on deposit insurance issues between its members. Now its members are Sudan, Kenya, Lesotho, Nigeria, Mauritius, South Africa, Tanzania, Uganda, and Zimbabwe which is the leader of the ARC.