National Bank of Cambodia delegates pay a working visit to the Deposit Insurance of Vietnam

15:08-20/06/2017

On 18 May 2017, a delegation of the National Bank of Cambodia (NBC) led by H.E. Ms.Neav Chanthana – Deputy Governor – paid a working visit to the Deposit Insurance of Vietnam (DIV).

Delegates from the National Bank of Cambodia

on their working visit to the Deposit Insurance of Vietnam

The working session was attended by the NBC’s delegates including Mr. Rath Sovannorak – the General Director of the Supervision and Inspection General Department, Mr. Khou Vouthy – the Deputy General Director of the Banking Operations Center, Mr.Ouk Sarat – Director of the Banking Settlement Department; from the State Bank of Vietnam, Ms. Dao Thuy Hang - Deputy Director of the International Cooperation Department. Representatives of the DIV included Mr. Nguyen Quang Huy – Chairman of the Board of Directors, Mr. Vu Van Long – Deputy General Director, Ms. Phan Thi Thanh Binh – Director of the Research and International Cooperation Department, Mr. Nguyen Linh Nam – Head of the Financial Sector Modernization and Information Management System (FSMIMS) Project Implementation Unit and a representative from the FPT – the FSMIMS system developer.

The working session focused on the overview of the DIV’s operations and the impact of the FSMIMS project on the DIV in enhancing its role of protecting depositors’ legal benefits, strengthening the information sharing and using within DIVas well as between the DIV and other relevant agencies to ensure the safety and soundness of the credit institutions system.

Speaking at the session, Ms.Neav Chanthana – NBC’s Deputy Governor raised questions on the enforcement of the Law on Deposit Insurance in Vietnam; the DIV’s powers of funds management and investment; and the cooperation and information sharing mechanism between the DIV and relevant agencies, especially the State Bank of Vietnam and the Ministry of Finance.

Through a presentation by Ms. Phan Thi Thanh Binh and another by Mr. Nguyen Linh Nam, the NBC’s delegates were provided with an overview of the operation and organizational structure of the DIV, the impact of the FSMIMS project on the management, examination, supervision and information sharing of the DIV. The presentation by Mr. Nguyen Linh Nam stressed on 03 major objectives of the project including: (i) strengthening information sharing between the State Bank of Vietnam and the DIV; (ii) upgrading the DIV’s operations and (iii) enhancing the internal administration overall the DIV.  

The FPT’s representative revealed that the company has been implementing various projects funded by the Cambodian government and it is willing to serve as a consultant if the NBC has a demand. 

Mr. Nguyen Quang Huy – DIV’s BOD Chairmanand Ms.Neav Chanthana –NBC’s Deputy Governor at the working session

During the working session, the two parties shared experiences in the management and supervision of people’s credit funds. The NBC representatives told their stories of overcoming difficulties to develop a legal framework on the management and supervision of credit funds in Cambodia.

At the end of the working visit, Ms.Neav Chanthana expressed her sincere thanks to the DIV and highly appreciated the DIV’s experiences sharing. Ms.Neav Chanthana also hoped for further bilateral cooperation and exchange activities between the two agencies. “We, the NBC, will not only improve our management capability but also focus on the investment and development of information technology infrastructure in conformity with NBC’s strategy, which will positively contribute to boost international integration and cooperation” – she stressed.

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