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Azerbaijan to become member of International Association of Insurers

24 October 2008 15:20 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan Deposit Insurance Fund (ADIF) plans to become a member of the International Association of Insurers in a few years, said Azad Javadov, Executive Director of the Fund.
He added that ADIF has already become a member of European Forum of Deposit Insurers (EFDI).
The EFDI was initially established in October 2002 in Vienna by 25 Deposit Guarantee Schemes (DGSs).
Considering the ECâ€™s growing interest in EFDI and its increasing responsibilities, EFDI decided to change its legal status and become an International Non profit Association in Belgium. EFDI became formally an INPA on the 22nd of June 2007.
EFDI now represents 54 DGSs from 39 countries of the European Area.
EFDI was originally founded because the European DGSs felt the need to convene in order to contribute to the stability of the financial systems, while promoting European co-operation in the field of deposit guarantee.
Since its very beginning, EFDI has aimed at facilitating dialogue among members as well as exchanging expertise and information on issues of mutual interest and concern.