Trang Chủ
The WB Team comprised Mr. Trieu Quoc Viet, Senior Financial Sector Specialist and Task Team Leader; Mr. Davit Babasyan, Senior Financial Sector Specialist and co-Technical Lead; Mr. Jean-François Bouchard, Senior Banking Consultant; Mr. Matei Dohotaru, Senior Financial Sector Specialist; and Mr. Marin Prisacaru, Senior Banking Consultant.
On behalf of the DIV, the meeting was chaired by Mr. Dang Duy Cuong, General Director of the DIV, along with Deputy General Directors Ms. Phan Thi Thanh Binh and Mr. Le Hung Cuong, leaders and staff from various departments at the DIV’s headquarters.
Also attending the meeting were representatives from the SBV’s Forecasting, Statistics and Monetary, Financial Stability Department and the International Cooperation Department.
During the session, the DIV representatives provided an overview of DIV’s roles, functions, and responsibilities and addressed key issues including: (i) The necessity, key proposed policies and progress on revising the Law on Deposit Insurance; (ii) Data collection mechanism and demand for additional data to support the DIV’s core operations; and (iii) Key results of the Financial Sector Modernization and Information Management System (FSMIMS) Project and the challenges currently faced by the DIV’s IT systems.
The DIV expressed a desire to seek expert opinions from WB regarding its law amendment process, particularly the operational model of the DIV, the enhancement of financial and operational capacities, and the refinement of the legal framework to enable the DIV’s effective participation in restructuring weak credit institutions. The DIV also sought assistance in upgrading its IT systems to align with the technological advancements and evolution of the banking sector. The DIV affirmed its willingness to contribute the data collected from insured institutions to the banking sector’s shared data warehouse while seeking access to other data sources to improve the supervision, forecasting, and early warning of weak credit institutions, thereby protecting depositors and maintaining national financial stability.
Throughout the discussion, the WB representatives posed numerous questions to clarify presented content and proposals while expressing their readiness to assist the DIV in revising the Law on Deposit Insurance, enhancing access to banking sector data, and upgrading IT systems to meet the DIV’s new requirements and tasks within a new cooperation program or project, anticipated to commence in late Q3 2025.
The WB experts also suggested potential areas for future cooperation, such as leveraging API (Application Programming Interface), machine learning, or AI for data collection, exchange, and processing; utilizing supervisory technology (suptech); monitoring information on social media; and employing cloud computing for data storage etc.
Mr. Trieu Quoc Viet, Senior Financial Sector Specialist and Task Team Leader, commended the DIV’s insightful exchanges and information. He emphasized that the DIV is one of important beneficiaries of the forthcoming programs and reaffirmed the WB’s commitment of continued support for the DIV upon the completion of necessary procedures by both parties.
Concluding the session, Mr. Dang Duy Cuong, General Director of the DIV, expressed his gratitude for the valuable insights shared by the WB Team and conveyed his hope for future meetings to deepen mutual understanding and facilitate the WB in providing appropriate recommendations and support for the DIV.
Research and International Cooperation Department
