Management bodies

Managing Board

The Managing Board is composed of five members appointed by the Government of the Republic of North Macedonia. Three members are appointed upon proposal of the Minister of Finance, one upon proposal of the Governor of the National Bank of the Republic of North Macedonia and one upon proposal of the Macedonian Banking Association. The last one must not be a member of a management body or an employee in a bank, branch of a foreign bank or a savings house and must be an expert in banking and finance.

DIF activities are performed through following divisions:

• Division of Administration carries out activities to assure that DIF operations are performed in accordance to the legal framework. This division is also responsible for matters related to human resources, keeping accounting records and creating financial statements, implementation of public procurement procedures and keeping records of public procurement procedures, keeping records of documents (archive), dispatch and servicing other divisions and employees and keeping maintenance and security of premises and the working environment.
• Division of Reimbursement of Depositors, International Relations, Public Relations and ICT is responsible for analysis of DIF members’ deposits, reimbursement of insured deposits and other obligations of the Fund, analysis of reports for calculation of premiums and projected reimbursements, creating and managing databases of insured deposits’ holders, ICT management, Software management and managing cooperation and implementation of projects related to national and international institutions.
• Division of Investments is responsible for controlling the calculation of premiums, implementation of investment policy and coordination of the Board of Investments, for maintaining DIF liquidity in accordance to the legislation, maintaining ISO standard, analyses and reports on the DIF’s investment portfolio, risk assessment and proposals for trading with securities and treasury bills.