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New measures for deposit insurance in banks

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Prime Minister and Minister of Finance Mirko Cvetkovic tonight announced new government measures regarding deposit insurance in banks which will include investment funds, adding that these measures will be in line with European directives.

Speaking at a Conference of the European Forum of Deposit Insurers (EFDI) at the Hyatt Regency Hotel, Cvetkovic noted that the Serbian government managed to regain citizens’ confidence in the domestic finance system.

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He explained that the system was first jeopardised 20 years ago, because of the inability to pay out old foreign currency savings to citizens. Afterwards, three years ago, the global economic crisis struck, but the government managed to overcome it when it comes to regaining confidence in the domestic financial system.

The Prime Minister stressed that Serbia could not have avoided the negative effects of the crisis, which put two questions before the government: whether Serbia has a stable financial system and whether citizens have confidence in this system.

Cvetkovic said that the Deposit Insurance Agency played an important role in this respect, adding that the Agency adopted adequate measures and managed to stabilise the financial system with the government’s support.

The Prime Minister voiced his hope that participants in the conference will leave Belgrade enriched by new experiences.

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The conference, held from 29 to 31 May, is organised by the Deposit Insurance Agency and the EFDI.

The topic of this year’s gathering is the financing of the system for the insurance of deposits and investor protection funds, which is of crucial importance for the implementation of pre-emptive measures for maintaining the financial sector.


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