Majed Fraihat's Colleagues at Palestine Deposit Insurance Corporation PDIC
Ikhlas Hassouneh
Head of Public Relations Department & Secretary of the Board
Majed Fraihat's Contact Details
Palestine Deposit Insurance Corporation PDIC
Majed Fraihat's Company Details
Establishment:Palestine Deposit Insurance Corporation (PDIC) was founded pursuant to the provisions of the Presidential Law by Decree No. (7) Of 2013, having legal entity and enjoying legal capacity as a financially and administratively independent corporation to fulfil its mandated function to protect depositors with member banks, encourage saving and promote confidence in the Palestinian banking system.According to the provisions of its Law, PDIC enjoys vast authority as may be necessary to exercise its function as an insurer of deposits and bank liquidator. The Law grants it also supervisory authority realized through the regular interchange of data and information on member banks with the PMA as per certain protocols that guarantee all information necessary is provided to the PDIC to achieve its objectives.Our visionTo reach a leading professional position in insurance deposits at the regional and international levels. Our missionTo increase confidence in the Palestinian banking system and protect depositors' savings in member banks.MOUs & MembershipsMOUs:MOU with Jordan Deposit Insurance Corporation, Feb. 2015.MOU with The Savings Deposit Insurance Fund of Turkey, Oct. 2015.MOU with Palestine Monetary Authority, Sep. 2016.MOU with The Moroccan Deposit Insurance Corporation, March 2017.MOU with the Korea Deposit Insurance Corporation, October 2017.MOU with Tunisien Caisse des Dépôts et Consignations, November 2017.Memberships:PDIC is a member of the International Association of Deposit Insurers (IADI); which is a non-profit organization, incorporating a separate legal entity, domiciled at the Bank for International Settlements in Basel, Switzerland. The Association's objectives are to contribute to the stability of financial systems by promoting international cooperation and to exchange expertise in the field of deposit insurance. IADI currently represents 83 deposit insurers, 10 associates and 14 partners.