November 11, 2024
PRESS RELEASE
The Administrative Board appointed Olga Bilai as a Managing Director of the Deposit Guarantee Fund according to the Law of Ukraine “On the Household Deposit Guarantee Scheme”, on November 11, 2024.
“Team of the Fund faces serious challenges connected primarily with the fact that Ukraine has been living in conditions of a full-scale war for the third year in a raw. It is very important for us to preserve and develop the Fund’s achievements in strengthening of stability of the deposit guarantee system and maintaining public trust in the banking system. Reforming of the deposit guarantee system in accordance with the European requirements, taking into account the prospects of Ukraine for EU membership, is among our key tasks. More specifically, we will work on extending DGF coverage to legal entities and non-bank financial institutions and developing effective early warning system. Another important direction of our work is to bring the claims against the former owners of bankrupt banks to final court decisions and compensate losses caused by the Russian aggression, in order to settle accounts with the creditors of banks and the state,” Olga Bilai emphasized.
According to Article 13 of the Law of Ukraine “On the Household Deposit Guarantee Scheme”, the Managing Director is appointed and dismissed by the DGF Administrative Board, by the majority of its’ members, for a term of 5 years.
Recall that Olga Bilai was appointed as an Interim Executive Director from July 18, 2024 due to completion of a five-year term of Svitlana Rekrut.