Deposit Protection Fund CEO elected as Chairperson of the Africa Regional Committee (ARC) of the International Association of Deposit Insurers (IADI) – June 8, 2023
The Deposit Protection Fund (DPF) is proud to announce that its Chief Executive Officer, Mrs. Julia Clare Olima Oyet, has been elected as the Chairperson of the Africa Regional Committee of the International Association of Deposit Insurers (IADI). This followed the overwhelming adoption of a motion to appoint her as Chairperson by the IADI Executive Committee, during the Basel sitting of June 8, 2023, in Switzerland.
This prestigious appointment highlights Mrs. Oyet’s remarkable leadership in the field of deposit insurance and her commitment to contributing to financial sector stability both at home in Uganda, across the African Continent and beyond.
The International Association of Deposit Insurers is a global organization dedicated to enhancing the stability of the international financial system by promoting effective deposit insurance systems. The Africa Regional Committee focuses on addressing the unique challenges and opportunities facing deposit insurers in the African region and fostering cooperation among its members.
As the newly elected Chairperson, Mrs. Oyet will play a pivotal role in advancing the goals of the IADI and promoting best practices in deposit insurance across Africa. Her extensive experience in the field, coupled with her visionary leadership, make her a perfect fit for this significant position.
Under Mrs. Oyet’s leadership, the Deposit Protection Fund has consistently demonstrated its commitment to safeguarding depositor interests when a bank is closed. With her stewardship, the Fund has been fully operationalized with all functions managed in-house. Mrs. Oyet has overseen the implementation of a multi-billion-shilling Depositor Payout and Premium Management System to enable efficient payout of depositors in the event of a bank closure. She has spearheaded the process of rolling out an extensive public awareness program designed to reach both the informed and vulnerable depositors. Other achievements include increasing the deposit insurance limit from UGX 3 million to UGX 10 million and doubling the fund size. Finally, she has established effective strategic partnerships with regulatory authorities, financial institutions and other Deposit Insurance Agencies both within and outside Africa.
In her new role, Mrs. Oyet aims to foster collaboration among deposit insurers in Africa and facilitate knowledge sharing to address emerging challenges. She plans to promote capacity building initiatives that will empower deposit insurers to effectively navigate the evolving financial landscape and adapt to changing regulatory requirements. By fostering stronger ties with international counterparts, Mrs. Oyet envisions facilitating greater harmonization of deposit insurance practices across the African region.
Expressing her gratitude for the opportunity, Mrs. Oyet – the first female ARC Chairperson stated, “I am deeply honoured to be elected as the Chairperson of the Africa Regional Committee of the IADI. This appointment is a testament to the collective efforts of the Deposit Protection Fund and our commitment to promoting financial stability. I look forward to working closely with my esteemed colleagues across Africa to strengthen deposit insurance systems and contribute to the overall resilience of our African financial sector.”
The appointment of Mrs. Julia Oyet as Chairperson of the Africa Regional Committee reflects not only her personal achievements but also underscores the reputation and expertise of the Deposit Protection Fund on the international stage. It reinforces the Fund’s commitment to excellence and its determination to play an active role in shaping the future of deposit insurance in Africa.
The Deposit Protection Fund extends its heartfelt congratulations to Mrs. Oyet on this well-deserved appointment and pledges its unwavering support as she assumes this new responsibility. With her exceptional leadership, the DPF is confident that Mrs. Oyet will make a significant impact on the advancement of deposit insurance practices and foster a more resilient financial system within Uganda and beyond.
