Deposit Insurance Agency of the Republic of Albania and Deposit Insurance Fund of the Republic of Kosovo further their Cooperation

Deposit Insurers of the Republic of Albania and Kosovo provide new momentum on their bilateral relation in support of financial stability of their respective depositors. On 27th of July, 2017, the executive directors of ADIA, Mr. Genci Mamani, and of DIFK, Mrs. Violeta Arifi-Krasniqi, signed a new Memorandum of Understanding in Pristina.

In the wake of ongoing meetings and consultations, with a view to enhancing professionalism, insurance and compensation capacities, the Memorandum of Understanding aims primarily to foster an environment for a more professional and comprehensive cooperation in terms of preparation for a compensation event. One of the key novelties introduced by the Memorandum is the commitment by the Signing Authorities to carry out joint simulation exercises and provide mutual assistance, if deemed necessary, in compensation case. This advancement of cooperation takes into account the similar organizational structures and financial environments where the authorities operate.
On the occasion of the signing ceremony, General Director of ADIA, Mr. Genci Mamani, delivered an address thanking DIFK management team for the very rewarding cooperation, and providing assurance that the act that the two authorities are undertaking is proof of mutual professional and earnest efforts to foster a safer financial environment in accordance with the best standards in the field of deposit insurance. On the other hand, Managing Director of DIFK, Mrs. Violeta Arifi-Krasniqi, noted that the cooperation between the Albanian DIA and DIFK reaffirms the commitment of both institutions to meet international standards in the field of deposit insurance based on joint synergies to serve both depositors and financial stability.

The ceremony was attended by Ms. Shkëndije Himaj-Zekaj, Chair of the DIFK Management Board, who welcomed the important agreement between DIFK and ADIA, and among other things noted that the sustainable financial and institutional development of DIFK is a result of inter-institutional cooperation, especially under the current circumstances where the Central Bank of the Republic of Kosovo provides sustainable financial stability, the Government of Kosovo through the Ministry of Finance supports DIFK development objectives, and commercial member banks contribute to DIFK sustainable financing by means of regular premiums, thereby making the development of DIFK an inevitable feature.

Additionally, the ceremony was attended by members of the senior management of the Deposit Insurance Agency of the Republic of Albania, Central Bank of Kosovo, DIFK Member Banks and representatives of the media.