Deposit Protection Corporation CEO appointed IADI treasurer

At the recently held 13th Annual Conference and General Meeting of the International Association of Deposit Insurers (IADI) that was held on the 23rd of October 2014, the Chief Executive Officer of the Deposit Protection Corporation (DPC) Mr John Mafungei Chikura was elected as the new Treasurer of the international body of deposit insurers.

By virtue of the appointment, Mr Chikura will also sit on the Executive Council of IADI. The prestigious appointment has raised the profile of Zimbabwe's brand on the international scene and it further attests to the country's sterling contribution and active participation in global financial issues.

The International Association of Deposit Insurers was formed in May 2002 to enhance the effectiveness of deposit insurance systems by promoting guidance and international cooperation.

Members of IADI conduct research and produce guidance for the benefit of those jurisdictions seeking to establish or improve a deposit insurance system. Members also share their knowledge and expertise through participation in international conferences and other forums.

IADI currently represents 79 deposit insurers. IADI has grown to become an international standard setter and collaborates with key developmental partners such as the Basel Committee of Banking Supervision(BCBS), World Bank (WB) and International Monetary Fund (IMF) among others.

IADI is a non-profit organization constituted under Swiss Law and is domiciled at the Bank for International Settlements (BIS) in Basel, Switzerland

Mr Chikura is also the current Chairman of IADI's Africa Region with an oversight of over 12 markets namely Nigeria, Kenya, Sudan, Tanzania, Uganda, Libya, Republic of Mauritius, South Africa, Malawi, Mozambique, Lesotho and Algeria, among others.