MANILA – The Philippine Deposit Insurance Corporation (PDIC) has signed a cooperation agreement with its Mongolian counterpart to strengthen depositor protection and enhance the effectiveness of their respective deposit insurance systems.

In a news release on Monday, PDIC said it entered into a five-year Memorandum of Understanding (MOU) with the Deposit Insurance Corporation of Mongolia (DICoM), marking the first formal collaboration between the two institutions .

The agreement was signed in November 2025 on the sidelines of the International Association of Deposit Insurers (IADI) Annual Conference in Lisbon, Portugal, by PDIC President and Chief Executive Officer Roberto B. Tan and Amar Lkhagvasuren, a board member of Mongolia’s National Deposit Insurance Committee. The MOU may be extended for another five years upon mutual consent.

Under the pact, the two agencies committed to cooperate and share technical knowledge and best practices in key areas such as deposit insurance operations, bank resolution, receivership and liquidation, risk and fund management, premium assessment, information technology systems, and legal and administrative procedures.

The MOU also provides for joint research projects, senior-level study visits, and the creation of working groups to support capacity-building initiatives, including training programs and technical exchanges. The partnership is expected to help both agencies adapt to evolving financial risks and align with international standards on deposit insurance.

PDIC said the agreement forms part of its broader efforts to strengthen international cooperation. The state deposit insurer has similar arrangements with counterparts in countries such as Germany, Japan, South Korea, the United Kingdom, the United States, and several Southeast Asian nations .

Established in 1963, the PDIC is mandated to protect depositors and help maintain stability in the Philippine financial system.