Webinar held by Deposit Insurance of Vietnam and Deposit Insurance Agency of Russian Federation

15:56-03/11/2021

On September 23, 2021, the Deposit Insurance of Vietnam (DIV) in collaboration with the Deposit Insurance Agency of the Russian Federation (DIA) held a Webinar entitled "Reimbursement and Liquidation - Experience and lessons learned of the Deposit Insurance Agency of the Russian Federation”.

At the Webinar, the DIV’s attendees were Mr. Pham Bao Lam - Chairman of the Board of Directors (BoD), members of the BoD, members of the Management Board, and representatives of some departments at the DIV’s Headquarters and 08 regional branches.

On the DIA’s side, the attendees were Mr. Yury Isaev –DIA’s General Director; department heads acting as the DIA’s speakers from the Deposit Insurance (DI) Reimbursement Department, the Financial Institution Restructuring Department, the Liquidation Support Department; and representatives of the International Cooperation Group.

 

A panorama of the webinar held by the DIV and DIA

Delivering his opening speech, Mr. Pham Bao Lam stated that in order to accomplish  the assigned tasks in the restructuring of credit institutions, the DIV is in the process of reviewing and proposing amendments to the Law on DI.

According to him, in the Asia-Pacific region, the DIA is known as an advanced and modern deposit insurer, with abundant experience in the resolution and liquidation of failed credit institutions and DI reimbursement.

“The DIV believes that the DIA’s shared experience will be an useful source of reference for the DIV as well as a good opportunity for the DIV’s officers to access practical knowledge provided by the DIA, and will contribute to improving the operational activities of the DIV in general and the professional capacity of each officer in particular”, he emphasized.

The DIA’s speakers gave presentations on 3 topics, namely DI reimbursement, prevention of bank bankruptcy through financial assistance and settlement of bank liabilities, and liquidation of financial institutions.

Through their presentations, the DIA showed the capacity and authority of a deposit insurer taking the role as a liquidator and participant in bank resolution, contributing significantly to ensuring the interests of depositors and the safe and sound development of the banking system. The Webinar took place in an exciting and positive atmosphere. Many questions raised by the DIV’s officers were answered satisfactorily by the DIA’s speakers.

In the closing remarks, Mrs. Phan Thi Thanh Binh – DIV’s Deputy General Director highly appreciated the DIA’s cooperation, enthusiasm and responsibility. She also expressed her hope that the two organizations would continue to maintain a good relationship and have more effective cooperation activities in the future.

Research and International Cooperation Department