Trang Chủ
Over the past 10 years, DIV has fulfilled very well its functional mandates in protecting the fund depositors and ensuring banking safety. Ten of millions of depositors have been protected by DIV. By so far, more than 1500 people of total VND20-billion deposit in 36 failed credit funds have received their every single penny thanks to prompt payment of DIV. This has made positive contributions to consolidating and increasing public faith on the Government in general, and credit funds in particular, preventing from bank run as consequences of banking panic in the late-1980s at the period of time there were no deposit insurance institution; simultaneously, contributing to stabilizing political situations and social security & order in the localities of the failed financial organizations.
By examining and monitoring, DIV always takes a special look at money flow that is injected into 1000 insured organizations, sees to all activities of these funds and changes of financial market, in order to give early warnings to help these organizations make prompt control of and prevent from risks. When the insured institutions temporarily face difficulties in liquidation, financial assistance provided by DIV shall support the insured institutions to quick overcome problems and to continue operate in healthy conditions. Nowadays, DIV has become a vital factor to the process of building and consolidating credit and sale brand of the credit funds. It is easy to recognize, in all corners of the trading counter of the financial institutions, the certificate of DI or the message of “coverage is automatic” – right in the “eye-catching” place in parallel with notices of interest rates etc. This proves that DI policy has been realized in life and brought into play, standing side by side with credit funds. Behind the success of credit funds, dynamic development of financial – banking sector in the recent time should account for the “silent” role of DI agency in providing early warnings on potential risks. Especially, DIV has been on the same road with banking system to overcome the chaos of the global financial crisis that was called the worst since the one related to the Great Depression of 1933.
At present, DIV has its head office in Hanoi and 6 branches in the 6 important economic regions of the country. With a wide range of DI network, DIV can expand “its hands pan” to all insured organizations nation-wide; take a broad eye to ensure DI operations to be promptly and fully implemented.
To have a consolidated stance in financial market like today, first of all – it is necessary to reconfirm the right policy of establishing a financial institution as “risk warning fence” of the Government that is aimed at safety for people for the sake of sustainable development. The statistics of IADI also showed that there are presently more than 100 nations in possession of DI system and an increasingly tendency of new establishment of DI agency. In the period of crisis storm, government of various countries used DI Institution as one of efficient tool to restore public faith and to stabilize market. It means that the role of this kind of insurance has been being even more improved.
Bringing into play its domestic capacity, DIV sooner has built long-term development orientation with prolonged vision and specific itinerary, focusing on becoming risk-minimizer model – presently as the most pre-eminent model in the world – based on 5 pillars, grouping: consolidated legal background; financial capacity enhancement and systematic transparency maintenance; integration-oriented service quality improvement and diversification; effective system structuring in connection with professional HR development to response to situations of bank problems; IT-based DI modernization. In addition to increasing monitoring quality, moving from compliance to prudential monitoring upon risk basis, payment reform etc..., applied research is considered one of the most attractive aspects in order for DIV’s long-term objectives finalization. DIV has pro-actively worked with the DI Laws Revision Board to research, make a bill; to build “DI development strategy in the period of 2009-2012 and orientation up to 2020” to submit higher authority for the PM’s approval; to implement the project “off-site monitoring for the insured DI”, the project on “building prudential monitoring system”, the project on “research and implementation of activities that are aimed at supporting public and depositors, the project on “research of customer-depositors management information system. Especially, with completion and submission for higher authority’s approval the three projects on “Risk-minimized DI premium system”, “Receivership of special financial assistance funds”, and “Receivership and Resolution” have marked important steps of DIV in transitional period from the model of pay-box with extended functions to the model of risk-minimizer. DIV also pro-actively participates and consults ideas with the National Monetary Policy Consultancy Council about the solutions of ensuring prudential banking - financial system development, proposes the Government with stimulus measures on economic recession prevention.
Being aware of the importance of integration and being indulged in learning international experiences on DI, DIV has joined IADI since the first day of its foundation and has established bilateral & multi-lateral cooperation with many DIOs all over the world. Besides, DIV has established good relationship with various big financial organizations such as WB, ADB, USAID, JICA, CIDA, contributing to reaffirm the strong status of a Vietnamese DI Agency in international community.
Closely connecting with banking activities - a very sensitive and highly inspiring business sector, an increase in public confidence on banking system through I.E.C activities are paid with a special attention by DIV. Together with diversification of I.E.C activities on DI policies, advertisement of the DIV’s picture, campaign on leaflets provision or direct discussion & information sessions in front of depositors..., DIV’s I.E.C has been even more improved in the term of quality, in a line with communication consolidation, interactive and mutual understanding between the insured institution and public through research, construction and implementation the strategy on public relations development in replacement of the traditional one-way “I.E.C”.
Expectation to become a modern financial institution in order to meet international standards on operation has been being daily realized by the whole DI system. To succeed, DIV needs to no sooner create sustained legal framework – in which Laws on DI is the most important – with clear rights and power. At present, the revised documents on DI are just the Decrees that are not catching up with the realistic development of banking – financial activities in general and DI activities in particular as well as the position of DI agency in Vietnam, like a coat that is tight than the person who bears it.
