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Promoting role of deposit insurance in context of diminishing ODA capital

The development of an economy depends on various available investment capital sources. While domestic funds play a vital and decisive role, foreign capital is considered an important supplementary source for igniting the economy’s development. Out of foreign capital sources, Official Development Assistance (ODA) accounts for a large percentage with a huge importance for national development but is on a downward trend. Therefore, it is required to consider a change toward exploiting suitable domestic capital sources as a substitution.

Banks roll out preferential credit packages to customers

Many commercial banks have unveiled preferential credit packages for both individual and corporate customers. This is one of the measure to support individuals and enterprises post-pandemic.

Credit institutions’ determination and activities to share difficulties with customers

At a recent online conference on enhancing bank credit to support businesses and people to overcome difficulties caused by the COVID-19 pandemic, leaders of the Vietnam Banking Association, Vietnam Bank for Social Policies (VBSP) as well as representatives of some commercial banks shared their determination and specific actions taken to support customers, thereby contributing to speeding up the process of removing difficulties for COVID-19 affected businesses and people. 

DIV’s Deputy Director Pham Bao Khanh: amended regulation on reporting information about insured deposits more suitable for insured institutions

On December 31, 2019, the Management Board of the Deposit Insurance of Vietnam (DIV) issued the Decision No 1248/QD-BHTG on amending, supplementing some articles of the Regulation on reporting information about insured deposits issued together with the Decision No 2252/QD-BHTG dated December 15, 2017 by the Management Board of the DIV to suit the reality and system of current legal documents. Decision 1248 took effect on July 01, 2020.

Banking industry urgently takes measures to strengthen prevention, control and handling of COVID-19 pandemic’s impact

On March 31, 2020, the Governor of the State Bank of Vietnam (SBV) issued the Directive No. 02 / CT-NHNN on urgent solutions of the banking industry to strengthen the prevention, control of the COVID-19 pandemic and overcome difficulties caused by its impact. The Directive took effect on the date of signing.

Post-pandemic business opportunities for banks

Banks are ready to seize business opportunities in the coming months as the COVID-19 pandemic has been basically controlled in Vietnam and domestic production and business are expected to accelerate soon.

Mobile transactions in Vietnam to grow 400% by 2025

Mobile transactions in Vietnam are forecast to increase by 400% by 2025 in the Fintech and Digital Banking 2025. This is the information from Asia Pacific Report released by Backbase on May 11.

Banking industry accompanyies and supports enterprises to promote production and business

At the Prime Minister’s Meeting with the enterprises on May 9, 2020, SBV Governor Le Minh Hung shared information about the monetary policy management, the banking operations and lending to enterprises over the past time. In addition, the SBV Governor also provided feedbacks on several questions and requests from the domestic and foreign business communities.

The banking industry accompanies and assists businesses in difficulty post-epidemic

The Covid-19 pandemic has plagued the global economy. Although Vietnam is considered as one of the countries proving effectiveness to prevent Covid-19, the negative impacts caused are undeniable. Many businesses fall into extremely difficult situations, even would have to cease their operation without the timely intervention of the State Bank (SBV).

Deposit Insurance of Vietnam - imprints of Age 20

Two decades ago, on November 9, 1999, the Prime Minister signed a decision to establish the Deposit Insurance of Vietnam (DIV) with a commitment to protecting depositors' rights and interests, contributing to maintaining the safety and soundness of the system of credit institutions (CIs) in the context of the economy having been hit hard by the global financial crisis. On the other hand, Deposit insurance (DI) is completely new in Vietnam. Starting off with difficulties, the DIV has gone through 20 years of development, positively contributing to the renovation of the country, the restructuring of the CI system and the protection of legitimate rights and interests of depositors.

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