Trang Chủ
Provision 14, Article 13 of the Law on Deposit Insurance clearly states that the Deposit Insurance of Vietnam (DIV) would be liable for organizing public awareness activities regarding policies and legislations on deposit insurance. The Provision 2, Article 11 of the Law on Deposit Insurance regarding rights and obligations of insured depositors requires that the insured institutions and the deposit insurer to provide adequate, accurate information regarding deposit insurance. For the last 16 years, especially in recent years, the public awareness activities have been defined as a significant function, contributing to performance and development of the DIV.
The public awareness activities have been directed and implemented in a strict and systemic way from headquarters to branches in various forms. Website and the News Bulletin are two official products of the DIV which help convey information on policies of deposit insurance, finance and banking to the public. Press products inside and outside the banking sector, meetings, conferences, workshops, talks at credit institutions with customers,… are used to communicate with various groups of people. However, coordination in conducting public awareness activities regarding policies and legislation on deposit insurance to depositors between the DIV and credit institutions is still limited.
At present, most transaction units of insured institutions only display certificates of deposit insurance, not providing information about the deposit insurance policies to depositors. This is a shortcoming which requires a close coordination between the DIV and insured institutions in providing information on the deposit insurance policies to depositors in a regular, transparent and public way.
In order to protect depositors and contribute to the financial stability, it is necessary to ensure that the public are provided with updated, adequate information about policies, regulations on deposit insurance. According to the standards set by the International Association of Deposit Insurers, the deposit insurer should take the main responsibility in raising public awareness of the deposit insurance system, information, knowledge of finance and banking at home and abroad. Therefore, the DIV should regularly carry out activities to raise public awareness; closely coordinate with banks, state governing bodies to agree on agendas, plans and contents of public awareness activities.
Besides, there have been no guiding documents, coordination mechanisms and implementing budget. In order to raise public awareness, various forms of communication should be carried out and this requires expenses. To gradually raise public awareness and confidence, propaganda, communication activities of legal policies and regulations on deposit insurance should be continuously enhanced. The improved public awareness and confidence will contribute to financial, monetary market stability, ensuring safety of the system credit institutions, as well as deposits.
The objective of the deposit insurance system is to protect legal rights and benefits of depositors, contributing to the stability of the credit institutions system, ensuring safe and sound development of banking operations. This is a very high, lofty, humanitarian objective. Therefore, besides regulations ensuring the deposit insurer to be financially capable, effectively governed as well as having human resources to participate in the process of supervision, examination of insured institutions, early warning system, risk detection and prevention, it is necessary to build and/or supplement regulations on accessing, sharing information in a regular basis between the DIV and the State Bank of Vietnam and credit institutions. In addition, it is also necessary to organize public awareness activities regarding policies and legislations on deposit insurance in a regular, deep and wide way to the public and depositors.
