Dissemination of deposit insurance policy to students

09:47-12/09/2019

Raising students’ awareness of and disseminating information about deposit insurance (DI) policy to them in a complete and timely manner will help students understand rights, obligations and legitimate interests of depositors, thereby orienting them properly towards the future. Moreover, with their own actions, students will be the new generation to create new financial behaviors which are likely to spread widely throughout the community.

Flexibly conveying DI policy to students

Stronger and wider spread of DI policy to the public, especially university students of economics - who major in economics and are depositors or future depositors is considered as an active and effective form of communication which has been used successfully by the Deposit Insurance of Vietnam (DIV) for the past few years. Having focused on diversification of communication forms and actively coordinated with the Youth Union at universities and colleges, the DIV has used new communication channels to create useful playgrounds for students such as “Contests on DI policy”, which are an extra-curricular cum education activity to help students access and improve their knowledge of DI.

Mr. Ngo Quang Luong - Member of the DIV's Board of Directors said that the dissemination of DI policy is one of DIV’s functions and duties, which is clearly defined in the Law on DI. It is a significant task assigned by the Party and the State to strengthen education, promote  dissemination of policies and laws in general and financial inclusion in particular to students. This also plays an important role in the socio-economic development of our nation.

“Besides, organizing contests on DI was to provide knowledge for students, so that they had an opportunity of studying the DI organization. In turn, the DIV also had a chance to recruit students for future jobs. Hopefully, such contests have helped students acquire more knowledge of DI, thereby helping to bring DI policy to life in an effective way”- highlighted Mr. Ngo Quang Luong.

According to Dr. Pham Lan Dung - Vice President of the Diplomatic Academy of Vietnam (DAV), learning about DI policy helps to raise the awareness of the lecturers and students of the Academy about economics - finance - banking and DI, which nowadays hold the students’ interest. Ms. Pham Lan Dr. Dung hopes there will be more cooperation between the DIV and the DAV to equip the students with DI knowledge.

Asso. Prof. Dr. Nguyen Thai Son - Dean of the Faculty of Accounting - Finance, Hai Phong University, highlighted that students - future owners of the country - are active propagandists to get DI policy across to their relatives and the community. Therefore, learning about the DI policy through contests is useful helping students have more practical knowledge to better serve their future jobs.

Looking forward to accessing more information about DI

As potential depositors in the future, students also expressed their desire to have access to knowledge of DI. Many interesting questions about DI policy and activities were raised in the contests, exchange programs and direct dialogues with students.

Student Le Xuan Bach - KT45C Class, DAV shared his excitement when participating in the “contest on DI policy". According to Xuan Bach, the event provided not only useful information about DI policy, thereby helping students gain more practical knowledge; but also made it possible  for students to cooperate in doing research when they were about to graduate.

Student Nguyen Thi Khanh Huyen - Faculty of Accounting and Finance, Hai Phong University expressed her opinion that “the contest on DI policy gave me and many other students an opportunity to learn quite well about DI Law and the relevant issues. The knowledge received during the contest is very important for students of finance like me. I also have more useful information to share with my friends and relatives so that they can know more about DI Law and the DIV's activities.”

According to Mr. Dang Hoang Linh – Deputy Dean of the Faculty of International Economics, DAV, DI knowledge is indispensable part of financial literacy programs in the world. Therefore, students in general and students of economics and finance in particular need to have access to DI knowledge through the university curriculum. "Students need to invest more time to study and understand the regulations related to the rights and benefits of depositors and safe and sound banking activities" – said Mr. Linh.

Although it was the first time to participate in a contest to learn about DI policy, Luu Tri Dung – second-year student of International Economics Faculty, DAV found that the acquired knowledge was quite useful, meaningful and practical for economics students like him. “I hope the DIV will continue to have more useful playgrounds like this for us. The way to convey information is very familiar and easy to understand. In my opinion, it is necessary to multiply such education programs for students. I think it will be very effective.”- Tri Dung added.

Sharing the same view, student Nguyen Huong Tra commented that “there was a lot of information derived from the questions and answers of the Advisory Board that I had never known before. Therefore, this contest was very effective, giving us an opportunity to acquire more useful knowledge of finance - banking - DI so that we can make career plans for ourselves, and thus, will be able to contribute significantly to the country in the future”.

It can be said that policy communication to students is one of the activities actively implemented by the DIV in order to bring DI policy closer to young people at universities across the country. By integrating knowledge into tests, multiple choice questions, and direct dialogues, the DIV can receive feedback from lecturers and students on the contents and format in order to implement communication activities more effectively in the future.

Research and International Cooperation Department