Implementing deposit insurance operations during the Covid-19 pandemic


Since the beginning of 2021, the Covid-19 pandemic has continued to develop complicatedly and spread across the country. Da Nang is one of the localities heavily affected by the pandemic with social distancing orders regularly and intensively implemented according to the Government's directives. Da Nang Regional Branch of the Deposit Insurance of Vietnam (the Branch) has closely followed the directions of the Government, the Deposit Insurance of Vietnam (DIV), and the local authorities, strictly complied with the pandemic prevention measures in order to ensure the implementation of the dual goals of "containing the pandemic simultaneously with completing the assigned political tasks, contributing to the completion of the proposed plan".

Striving to ensure smooth and efficient operations

The outbreak of the fourth wave of the Covid-19 pandemic with the rapid spread of new strains has significantly affected the implementation of the Branch's activities. At the time when Da Nang was the pandemic center of the whole country, in order to control the pandemic as quickly as possible, for nearly 3 consecutive working weeks, the Branch was only allowed to arrange 10% of the total number of employees maximum to work "3 on-site" (work - eat - rest on-site). With the heavy load of work and the shortage of personnel, the Branch flexibly applied technology to work during the remote working period, exchanged via email, held online meetings via applications such as meet, zoom, zalo... Thereby, the directives of the DIV were promptly and effectively implemented by the Branch's Board of Directors. Departments bases on work plans to develop detailed working plans, ensure periodical and ad-hoc reports are completed on schedule and no backlog of work. The Branch also promoted internal training in order to improve the professional qualifications of staff at the branch. Especially new operations related to on-site examination under the direction of the Governor of the State Bank (SBV), in order to readily perform the assigned tasks, ensuring the branch's operations are running smoothly and effectively.

Besides the implementation of professional operations, the Branch's pandemic containing activities are always prioritized and focused. The Branch regularly disinfects the workplace, provides medical equipment and supplies, distributes hand sanitizers to its departments. The Branch also requests officials and employees to strictly abide by the 5K recommendation of the Ministry of Health, actively declare their health, travel schedules, fully comply with the regulations on the use of "Travel document" of the local authorities and ensure the schedule and quality of the work when working remotely. Besides, the Branch organized 2 rounds of vaccination against Covid-19 for all officers and employees. Up to now, 100% of staff and employees at the Branch have been vaccinated with the first dose of vaccine, contributing to ensuring the health and stabilizing the working environment for officers and employees at the Branch.

Concentrating on implementing various operations in a synchronous manner

The Government's promulgation of the Resolution No. 128/NQ-CP on October 11, 2021 on temporarily stipulating the "safe adaptation to the COVID-19 pandemic", replacing the application of Directives 15, 16, 19, bringing the pandemic containing operation to the "new normal" stage, contribute to more convenience for the Branch in implementing the assigned tasks.

For on-site examination operation, the Branch did not reduce the on-site examination plan for 2021, regularly monitored the pandemic situation of each locality to proactively develop plans and implemented on-site examination activities as soon as the pandemic situation was under control. The Branch is determined to complete 100% of the plan of periodical examination and examination under the direction of the Governor of the SBV. Up to now, the Branch has implemented periodical on-site examination for 9/10 people's credit funds (PCFs), achieving 90% of the on-site examination plan approved by the Board of Directors of the DIV, completed 50% of the on-site examination work under the direction of the Governor of the SBV for the 2 assigned PCFs. The Branch strives to ensure the completion of the on-site examination work according to the set plan at the end of November 2021. The Branch is coordinating with the DIV North Central Regional Branch and the SBV Branch in Quang Tri province to hand over the management area of ​​insured institutions in Quang Tri province. In addition, the branch has completed the signing of "Regulation on coordination in providing information and exchanging information with the SBV branch in Binh Dinh province and the SBV branch in Quang Ngai province”, contributing to improving the role and responsibility in the implementation of deposit insurance policy in the locality.

The branch is implementing regular supervision for 51/51 insured institutions in its management area (including 50 PCFs and 01 foreign bank branch), closely monitoring the performance of insured institutions in the context of the pandemic to analyze, monitor and make recommendations and proposals to the SBV and the DIV on new problems that may cause unsafety to the credit institution system in the locality, implementing in-depth monitoring of some PCFs. In February 2021, the Branch sent staff to coordinate with the SBV Branch in Thua Thien Hue Province and Tien Phong Commercial Joint Stock Bank to reimburse all customers depositing at Thuan Hoa PCF with a total of nearly 1.6 billion VND.

Information and communication in the new situation are always concentrated. The branch has coordinated communication activities at the annual general meeting of 8 PCFs in the area under its management. The branch actively implemented the inspection of the implementation of the deposit insurance policy communication contract at the VNPOST post offices in each commune using the online form, ensuring completed work within the allocated time. In order to make communication activities more diverse, the Branch has increased communication activities via the press and television about the Branch's activities over the past 5 years of implementing the deposit insurance policy in the South Central Coast region. Maintaining the quality of news writing activities in order to regularly and promptly update the Branch's activities, contributing to promoting the deposit insurance policy to a wider audience in an effective manner.

In the coming time, the DIV’s Da Nang Regional Branch will continue to make efforts, focusing on synchronously implementing solutions to improve the efficiency of deposit insurance operations, strictly implementing the instructions on Covid-19 containment of the Government, the DIV and local authorities, promoting the spirit of solidarity and creativity, well implementing the "dual goals", and fulfilling the mission of "protecting the legitimate rights and interests of depositors, contributing to maintaining the stability of credit institutions in the locality".

Research and International Cooperation Department