Former head of pension reform service Otar Dzidzikashvili was appointed as the head of the Deposit Insurance Agency.
The deposit insurance system will be launched on January 1, 2018. According to the Law of Georgia on Deposit Insurance System, which was adopted by the Parliament in May 2017, the head of the of the Deposit Insurance Agency will be appointed by a five-member supervisory board for 5 years. According to the law, among the members of the Deposit Insurance Agency board there will be 2 independent directors. Independent directors will be chosen by commercial banks.
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