Deposit insurance coverage limit proposed to be VND 75 million

09:03-13/03/2017
The State Bank of Vietnam is drafting the Decision of the Prime Minister on the deposit insurance coverage limit. 
According to Article 24 of the Law on Deposit Insurance, the insurance coverage limit is the maximum deposit insurance coverage to be paid by the Deposit insurance organization for all insured deposits of a depositor with an insured institution when insurance payment duty arises.
 
This draft Decision contains provision on deposit insurance limit as prescribed in Clause 2, Article 24 of the Law on Deposit Insurance.
 
It is applicable to deposit insurance activities, rights and obligations of insured depositors, insured institutions, the deposit insurance organization and other organizations and individuals associated with deposit insurance
 
The coverage limit (including principal and interest) of an insured depositor proposed herein would be VND 75 million, compared with the current limit of VND 50 million (under Decree No. 109/2005/ND-CP of the Government on August 24, 2005
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