LEPL Deposit Insurance Agency organized welcome meeting with media representatives working on economic issues. The Head of the Agency introduced to the guests the presentation on deposit insurance system - its content and importance. Otar Dzidzikashvili talked about insurance coverage, regular premium payments of commercial banks, investment policy, payout procedures and other concerning issues. As the Head of the Agency highlighted, international practice widely proves the importance of deposit insurance system, as an essential component of financial safety net, even in cases of advanced economies and strongest banking supervision. Mr. Dzidzikashvili introduced financial data analyses to demonstrate that financial contribution of commercial banks (for deposit insurance system), doesn’t represent significant burden for them, especially in the situation, when banking sector is one of the best developed and stable fields of economy in Georgia. According to the data, there is no evidence that introduction deposit insurance system may at any way affect the prices of banking products.
The meeting was very interactive. The Head and the employees of the agency answered the questions raised by the journalists.