DIFK starts implementing the risk management function in cooperation with the World Bank

DIFK, with the assistance of FinSAC unit of the World Bank agreed through technical assistance for 2022, will implement the risk management function. This function will help DIFK to respond and address the risks to which it is exposed in order to ensure operational readiness at the institutional level in order to fulfill its mandate for protection of depositors.

The DIFK’s Board approved the Risk Management Policy in December 2021, and this month a workshop was held for DIFK staff provided by risk experts from FinSAC. The workshop provided key concepts for risk management, applicable international standards, the application of these concepts according to the DIFK Policy and of the risk management process at the institutional level.

This workshop represents the first phase of implementation of the Risk Management Framework in DIFK which will be followed by other activities where the final result will be the drafting of the risk profile of DIFK.