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 mandates are to protect depositors and creditors’ interests in bank bankruptcy proceedings. Thus, BDIF help to maintain the stability of and confidence in the banking system.
Guaranteed level of coverage is BGN 196,000 (certain deposits are guaranteed up to BGN 250,000 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 business days and is performed via a servicing bank/s.
Currently BDIF guarantees deposits with 19 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 as of 25 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’.