FUND'S PROFILE The Fund was established in January 1997 under the name Savings Deposit Insurance Fund Inc., Skopje, pursuant to the then valid Banks and Savings Houses Act. Since March 2001, the Fund is a state institution named Deposit Insurance Fund Skopje and is the legal successor of the Savings Deposit Insurance Fund Inc., Skopje. 1. Legal framework Deposit Insurance Fund Act Official Gazzette of RM, No. 63/2000, 29/2002, 43/2002, 49/2003 and 81/2008 and 158/2010 2. Status Legal entity owned by the Republic of Macedonia 3. Fund's members Banks, foreign bank branches and Savings Houses established in the Republic of Macedonia. December 2011: Total of 24 members (16 banks and 8 savings houses) 4. Fund's mission The Fund insures deposits of individuals. Insuring the deposits in banks, foreign bank branches and savings houses, the Fund contributes to provide stability and public trust in the banking and financial system of the country. From the date of accession of the Republic of Macedonia to the European Union deposits of small-scope commercial entities shall also be insured. 5. International relations The Fund is a member of the European Forum of Deposit Insurers - EFDI, established in October 2002. EFDI is an association of European Deposit Insurance Funds aiming at giving contribution to the stability of the financial systems by promoting European cooperation in the field of deposit insurance. The Fund cooperates with the International Association of Deposit Insurers - IADI since its foundation in May 2002. IADI promotes international cooperation in the field of deposit insurance.