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SAMA is a Member in The IADI
3/7/2019 12:00 AM
​Saudi Arabian Monetary Authority (SAMA) announces its formal accession to the International Association of Deposit Insurers (IADI). This step comes in accordance with the decision of the Council of Ministers issued on 01/01/1440H to approve the participation of SAMA in the membership of IDAI.

 

‏SAMA pointed out that the membership in the IADI is part of the efforts to strengthen its international relations with bodies and institutions operating in the financial sectors and to benefit from international experiences and practices in related fields. SAMA indicated that this membership should pave the way for the exchanging of experience in the field of Depositors Protection.

 

‏It is worth noting that the membership is involved in enhancing the effectiveness of deposit insurance and international cooperation. IDAI encompasses 110 members, including observers and partners represented by central banks, international bodies, financial institutions and funds aim at protecting depositors.

 

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