Bilateral meeting and webinar held by Deposit Insurance of Vietnam and Philippine Deposit Insurance Corporation
Wed, 30 Jun 2021 09:22:00 GMT

The Deposit Insurance of Vietnam (DIV) in cooperation with the Philippine Deposit Insurance Corporation (PDIC) organized a bilateral meeting on May 25, 2021 and a webinar entitled “Payout regime and communication during payout – The PDIC experience and lessons learned” on May 11.

Event attendees from the DIV side were Mr. Pham Bao Lam – DIV’s Chairman of the Board of Directors; Ms. Phan Thi Thanh Binh – DIV’s Deputy General Director; heads and representatives of departments, staff members of Research and International Cooperation Department. From the PDIC side, participants were Mr Roberto B.Tan – PDIC’s President; Vice Presidents and heads, staff members of International Cooperation Group.

The bilateral meeting was held in an open way with mutual sharing of economic, financial, banking situations, crisis responses and crisis contingency plans of the deposit insurance systems amid the Covid-19 pandemic’s adverse impacts on the region. Moreover, the DIV proposed the PDIC continue sharing its experiences in its professional activities as its strengths like communication, payout, financial support and weak credit institution resolution, etc. as well as conduct  joint research in deposit insurance.

Mr. Pham Bao Lam – DIV’s Chairman of the Board of Directors gives a speech at the meeting

Earlier, on May 11, the webinar entitled “Payout regime and communication during payout – The PDIC experience and lessons learned” was organized. Speaking at the webinar, Ms. Phan Thi Thanh Binh, Deputy Director of the DIV highly appreciated the PDIC’s cooperation and sharing, and stressed that PDIC’s experience is an important source of information for the DIV to conduct studies to propose amendments and supplements to the Law on Deposit Insurance to improve deposit insurance policy towards international practices in the coming time.

Panoramic view of the webinar

At the webinar, concerning payout, the PDIC’s speakers shared project management approach for bank closure, timeline of take-over and payout, methods of payout and payment, especially experience in making payouts during the Covid-19 pandemic. Besides, the PDIC’s strategic communication plans, effective tools and channels of communication with depositors over the course of bank closure and pre-payout activities were also shared in detail.

The webinar was held in a lively and positive way. A lot of questions raised by the DIV’s staff were answered by the speakers in a satisfactory manner.

Research and International Cooperation Department