Philippines-Mongolia Expand Deposit Insurance Cooperation

The Philippines and Mongolia have taken a historic step in strengthening financial sector resilience through a landmark agreement between their respective deposit insurance agencies. The Philippines’ Deposit Insurance Corporation (PDIC) and Mongolia’s Deposit Insurance Corporation (DICoM) have entered into a first-of-its-kind partnership, aimed at enhancing mutual expertise, operational efficiency, and financial stability.

The agreement was formalised during the International Association of Deposit Insurers (IADI) annual conference in Lisbon in November 2025. It carries an initial term of five years, with the option to extend for an additional five years by mutual consent. PDIC President and CEO Roberto B. Tan and DICoM Board Member Amar Lkhagvasuren signed the accord, marking a significant milestone in cross-border collaboration.

Under the terms of the agreement, the two organisations will cooperate across multiple key areas:

Bank resolution, receivership, and liquidation procedures

Risk management, premium assessment, and fund administration

Information technology, legal frameworks, and administrative processes

Public awareness initiatives for depositors

Cooperation will include maintaining international standards, conducting joint research projects, facilitating high-level study visits, sharing technical expertise, and implementing targeted training programmes. PDIC already maintains a robust network of international partnerships, which will now be further strengthened by engagement with DICoM.

The table below highlights PDIC’s principal global partnerships and core areas of cooperation:

The collaboration with Mongolia is expected to enhance PDIC’s operational efficiency, foster the adoption of international best practices, and contribute significantly to regional and global financial stability. It also underscores the strategic importance of cross-border partnerships in building stronger, more resilient financial systems, particularly in an era of increasing economic interconnection.