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Interview with Dr. Can Van Luc - BIDV Chief Economist, Member of the National Financial and Monetary Policy Advisory Council: Improving the role of the deposit insurer in the process of restructuring credit institutions

“In order to strengthen the role of the deposit insurer in the process of restructuring credit institutions, we need to seriously study to amend and supplement the Law on Deposit Insurance so that it is synchronized with the current legal framework, in line with the actual situation and towards international practices.” – Dr. Can Van Luc - BIDV's chief economist, member of the National Monetary and Financial Policy Advisory Council said.

DIV participates in restructuring the credit institution system associated with the handling of non-performing loans in the 2021-2025 period

It is one of DIV’s mission according to Decision No.689/QD-TTg approving the project "Restructuring the credit institution system associated with the handling of non-performing loans in the 2021-2025 period" and the relating Action Plan of the banking sector.

Improve the financial literacy and skills of each citizen

Concluding the meeting of the National Steering Committee on Financial Inclusion on August 6, 2022, Prime Minister Pham Minh Chinh asked to focus on communication and education to improve financial knowledge, understanding, financial literacy and skills for people, so that they are really the center, the subject and benefit in the implementation of the National Financial Inclusion Strategy.

Ensuring security and safety of information systems in the implementation of deposit insurance activities

Along with the trend of digital transformation, there are also challenges in cybersecurity and information safety, when financial institutions such as banks are always the "target" of cybercriminals. In that context, Deposit Insurance of Vietnam (DIV) always focuses on ensuring security and safety of information internally as well as in the network environment during the implementation of professional activities; thereby better protecting the legitimate rights and interests of depositors, actively contributing to maintaining the safety of the credit institution system.

Efforts to well implement deposit insurance policy

Deposit Insurance of Vietnam (DIV) has proactively implemented synchronous contents according to the program and working plan with positive and remarkable results, serving as a premise for a successful and comprehensive implementation of goals and tasks set out in 2022.

Deposit insurance contributes to improving the safety of the financial system

Improving the safety level for the financial system requires the participation of many State management agencies, supervisory agencies including the Deposit Insurance of Vietnam (DIV). Over the past 23 years, DIV has played a good role in protecting the legitimate rights and interests of depositors, making an important contribution to ensuring the healthy, stable and expanding banking and financial system.

Protecting the rights and interests of depositors in case that credit institutions get into troubles

People tend to choose to save their money at credit institutions for their convenience and safety. However, in case of bankruptcy of credit institutions, how can people’s deposits and legitimate rights and interests be protected? Related matters are specified in the Law on Deposit Insurance and other relevant laws.

DIV brings into play the role of supporting the operation of the People's Credit Funds

This is the result of the ministerial-level science and technology project entitled "The role of DIV in supporting the sustainable development of the People's Credit Fund system in Vietnam until 2025", which is led by Dr. Nguyen Dinh Luu, former Deputy General Director of DIV.

Results of deposit insurance operation in the first half of year 2022 and orientations in the coming time

The Deposit Insurance of Vietnam (DIV) has proactively implemented synchronously the contents according to the working plan with positive and remarkable results, serving as a premise for the successful and comprehensive implementation of goals and tasks set out in 2022.

Deposit Insurance of Vietnam hosted virtual workshop with Malaysia Deposit Insurance Corporation titled: “Building the Differential Premium System – Experience from the Malaysia Deposit Insurance Corporation”

On May 26, 2022, the Deposit Insurance of Vietnam (DIV) organized a virtual workshop titled “Building the Differential Premium System – Experience from the Malaysia Deposit Insurance Corporation (PIDM)”.

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