General Presentation

Bulgarian Deposit Insurance Fund (BDIF)

BDIF is a legal entity established under the Law on Bank Deposit Guarantee in 1998 and operational since January 1999.

BDIF mandate is to protect depositors and creditors’ interests in bank bankruptcy proceedings. Thus, the BDIF helps maintain the stability of and confidence in the banking system.

The core coverage is €100,000, and certain deposits are guaranteed up to €125,000 for a period of three months on per depositor per bank principle; guaranteed are deposits in national and foreign currency. Payout shall commence not later than 7 working days and is performed via a servicing bank/s.

Currently BDIF guarantees deposits with 18 banks.

More information is available here.

Chairman of BDIF Management Board

Mr. Matey Matev has been designated Chairman of the Management Board of the Bulgarian Deposit Insurance Fund for a renewed 4-year term of office as of 29 March 2023. He has been the Chairman of the BDIF Management Board since March 2019.

Mr. Matey Matev has substantial experience in the areas of contractual, commercial and real estate law, privatization deals, foreign investments and securities as well as legal representation in commercial, administrative and civil litigation. Mr. Matev holds a Master of Laws degree from Sofia University ‘St. Kliment Ohridski’ and a PhD in Law from the Law Faculty of the University of National and World Economy in Sofia.