The Deposit Protection Corporation (DPC) is proud to announce a significant new partnership with the Fonds de Garantie des Dépôts et de Résolution-UMOA (FGDR-UMOA), the deposit guarantee scheme of the West African Monetary Union. This collaboration is formalized through the recent signing of a Memorandum of Understanding (MoU), marking a major step forward in enhancing financial stability and deposit protection across Africa.
A Milestone for Regional Cooperation
The signing of this MoU represents a pivotal milestone in our ongoing efforts to foster cross-border cooperation. By joining forces with FGDR-UMOA, DPC aims to strengthen deposit protection frameworks, improve crisis preparedness, drive policy development, and invest in capacity-building for both institutions. These strategic objectives are critical to ensuring that depositors’ funds remain safe and that financial systems are resilient in the face of challenges.
Alignment with International Standards
This partnership is closely aligned with the International Association of Deposit Insurers (IADI) Core Principle 5, which emphasizes the importance of cross-border collaboration and information sharing among deposit insurers. By working together, DPC and FGDR-UMOA reaffirm their shared commitment to building robust, modern, and trustworthy deposit insurance systems that safeguard public confidence and support sustainable economic growth.
Looking Ahead: A Five-Year Commitment
Over the next five years, both organizations will focus on exchanging expertise, conducting joint training programs, and developing best practices that will benefit the wider region. We are excited about the opportunities this partnership will create, not just for our institutions, but for the millions of depositors across Africa who depend on strong, reliable deposit insurance systems.
This MoU lays the groundwork for a future defined by collaboration, innovation, and resilience. DPC looks forward to a productive and impactful partnership with FGDR-UMOA as together we work to advance deposit protection and financial stability across the continent.
