Trang Chủ
During the first half of 2016, the DIV witnessed significant changes in terms of legal framework, mechanisms as the Prime Minister signed Decision No 527/ QD-TTg on adjusting, supplementing some articles of Charter on the organization and operation of the DIV. Accordingly, the DIV is a state financial institution and operates as an one member limited liability company with 100% of charter capital owned by the state.
The DIV has actively cooperated with the State Bank of Vietnam, Ministry of Finance and Ministry of Labour, War Invalid and Social Affairs to draw up circulars as well as developed and issued its own documents on internal governance and operation. The DIV expects to have finished the formulation and issuance of documents on internal governance and operation and those guiding business in accordance with the Law on Deposit Insurance by the end of 2016.
The DIV’s operations including granting and revoking certificates of participation into deposit insurance; collecting deposit insurance premiums; managing and investing temporarily idle capital; making deposit insurance payout and participating in management and liquidation of assets; carrying out off-site surveillance, on-site examination and taking part in resolution of troubled people’s credit funds; pushing up PR activities have been implemented systemically, effectively as stipulated by law. As of June 20, 2016, there were 1,252 insured institutions including 92 commercial banks, the Co-operative Bank of Vietnam (Co-op Bank), 1,156 people’s credit funds and 03 micro-finance institutions. At present, the DIV is managing the operational capital worth more than VND 30,000 billion, a 38% increase year on year. Most of the DIV’s temporarily idle capital is invested in Government bonds. The DIV has completed the required technical infrastructure system to directly engage in tenders for Government bonds.
As for personnel and human resources development, the DIV always pays great attention to staff training and organizational enhancement. Especially, as required by reality, according to the Decisions issued by the State Bank of Vietnam, the DIV has set up two new departments at the Headquarters, namely Training Department and Participation in Special Control & Assets Recovery Department. At the same time, two new Branches were established, namely the North West Regional Branch located in Viet Tri City of Phu Tho Province and the Regional Branch in Da Nang City.
As a member of International Association of Deposit Insurers (IADI), the DIV has promoted international cooperation, participated in workshops, conferences, signed MOUs with the deposit insurers so as to share experiences and enhance the effectiveness of the deposit insurance system in Vietnam.
In the first haft of 2016, the DIV has actively implemented the FSMIMS Project funded by the World Bank aiming at enhancing the DIV’s capability in compliance with international standards. Some components of the Project have been delivered and put into operation, including the Documents and Reports Managing System, the Human Resources Managing System, the Accounting Software System. The remaining components have been under User Acceptance Tests (UAT). It is planned that all components of the Project will be delivered and golive on schedule.
Based on its good performance, assigned tasks and the 2016 plan as well as the instructions of the Government, the State Bank of Vietnam’s Governor, the Action Plan of the Banking industry, the DIV set forth key tasks and measures for the last 6 months of 2016. Specifically, the DIV shall have been cooperating with the concerned ministries to build law guiding documents, to issue those on internal governance and operations, to complete the Development Strategy up to 2020 and vision toward 2025; implementing the DIV’s operations effectively towards international standards, enhancing the DIV’s financial capacity; improving the quality of internal control and auditing; continuing to restructure its organization; developing human resources; focusing on setting up and upgrading information infrastructure and applying advanced technology; accelerating the process of basic construction; completing procedures and preparation for the two new branches to operate; actively implementing the proposals on raising the deposit insurance coverage limit and risk-based premiums upon approval; enhancing the role of the Party, unions in carrying out political tasks.
The meeting made a review of the Report on the one-year performance of the Steering Committee on supervision, inspection and resolution of troubled people’s credit funds. Accordingly, the operation of the Steering Committee for more than a year since establishment had met the goals and targets set earlier by the DIV under the instruction of the State Bank of Vietnam in order to safeguard legitimate interests and rights of depositors and the stability of the banking system.
Addressing at the meeting, Mr. Nguyen Quang Huy, Chairman of the Board of Directors stressed that for the first six months of 2016, the DIV has changed radically, which is also the result of the DIV’s development process. In order for the DIV to operate more effectively in the new situation and to be up to internal and external changes as well, each staff need be aware of self-improving, which, in turn, contributes to the sustainable development of the DIV.
On this occasion, “The banking industry’s excellent employee” awards were presented to 2 groups, 4 individuals; the Governor’s Certificates of Merit were presented to 6 individuals. In addition, the DIV announced the Decision on ad-hoc awards to 3 groups and 10 individuals of the Steering Committee, the Steering Team on supervision, inspection and resolution of troubled people’s credit funds and the Steering Committee’s Supporting Team.
