Trang Chủ
The Strategy was developed with the purpose of implementing the direction of the DIV to the action plans of the units under the DIV in organizing the implementation of tasks and solutions identified in the Strategy to achieve the goal in accordance with the viewpoint set out in the Strategy. In addition, this is the basis for units under the DIV to develop or adjust projects, plans, and action programs according to functions to direct and organize the implementation of specific tasks that the Strategy develops for orientated deposit insurance development for each unit.
The action program is also the basis for organizing examination, supervision, carrying out preliminary and final evaluation, and learning from experience in organizing the implementation of the Strategy, as well as a basis for coordinating with other agencies. Relevant agencies propose and submit to the Prime Minister for consideration and adjustment of objectives and content of the Deposit Insurance Development Strategy in case of necessity.
The deposit insurance development strategy has identified major goals including: Increasing the ratio of fully insured depositors to the total number of insured depositors to 92% - 95%, ensuring compliance with international practices; Shortening the actual payment time from the time the insurance payment obligation arises to 30 working days by 2025 and 15 working days by 2030 to help depositors have early access to their deposits when an organization participates in deposit insurance is resolved; Improve people's awareness with the goal that by 2025, 45% and by 2030, 55% of depositors will grasp the core contents of deposit insurance policy; and enhancing the role of deposit insurance in monitoring, supervising, detecting and early warning potential risks for organizations participating in deposit insurance as well as resolve weak credit institutions.
Based on these general and specific objectives, the Strategy proposes tasks and solutions in accordance with international practices and actual conditions in Vietnam. Responsibility for implementing tasks and solutions of the Strategy is clarified in the Action Program and detailed assignments made to departments, divisions and branches to implement 04 main groups of tasks/solutions, which include: (i) Group of tasks/solutions related to deposit insurance policy; (ii) Group of tasks/solutions related to deposit insurance activities; (iii) Group of tasks/solutions related to the deposit insurance organization and (iv) Group of tasks/solutions to improve the legal basis.
Regarding the group of tasks/solutions related to deposit insurance policy, DIV needs to periodically review, evaluate the appropriateness and propose to adjust the insurance coverage limit in order to increase the rate of insured depositors out of total number of depositors to reach 92% - 95%, ensuring compliance with international practices. In addition, it is necessary to research and evaluate the actual conditions of Vietnam and propose an appropriate time to develop and deploy deposit insurance fees on the basis of evaluating and classifying organizations participating in deposit insurance.
For the group of tasks/solutions related to deposit insurance activities, DIV needs to focus on completing the legal framework and procedures for granting, revoking and managing certificates of participation in deposit insurance; completing the information and reporting regime; improving the efficiency of professional operations of DIV such as examination, supervision, special control, deposit insurance reimbursement and asset liquidation; improving the effectiveness of deposit insurance policy communication activities.
Regarding the group of tasks/solutions related to the deposit insurance organization, the DIV needs to do research to improve financial capacity through increasing charter capital, diversifying investment portfolio and forms, and adding additional forms of access to other emergency capital sources. At the same time, we focus on strengthening the organizational structure and developing human resources, training staff and applying information technology...
For the group of tasks/solutions to improve the legal basis, DIV needs to focus on doing research on amendments and supplements to the Law on Deposit Insurance and the system of documents guiding the implementation of the Law on Deposit Insurance and the Law on Credit Institutions (amended) to overcome existing shortcomings, consolidate the legal basis for deposit insurance activities and unify with relevant legal documents so that DIV can increasingly promote its important role in the banking and financial system; especially participating more deeply and effectively in the process of restructuring credit institutions. At the same time, focus on doing research and perfecting regulations on the financial regime of the deposit insurance organization.
It can be said that the task/solution to perfect the legal basis is the most important solution that affects the entire process of implementing the Deposit Insurance Development Strategy.
In recent times, the DIV has proactively summarized and proposed amendments and supplements to the Law on deposit insurance to resolve problems in the practical implementation of the Law, and at the same time enhancing the role of DIV when participating in the process of restructuring credit institutions that are specially controlled according to the direction of the Prime Minister. DIV has repeatedly reported to the SBV on summarizing the implementation and proposing amendments and supplements to the Law on deposit insurance, and proactively discussed and worked with relevant units under the SBV to technically complete the contents proposed to be included in the Law amending and supplementing the Law on Deposit Insurance.
These policies have basically been initially agreed upon, such as completing regulations on deposit insurance fees; improving the financial and operational capacity of the deposit insurance organization; modifying the time when the insurance payment obligation arises to be earlier; supplementing a number of rights and obligations of the deposit insurance organization to more effectively implement the deposit insurance policy...
In addition, the Law on Credit Institutions (amended) will also have a great impact on the role, functions and tasks of DIV after being approved. Some policies in the Law on Credit Institutions (amended) have a direct impact on the functions and tasks of DIV such as purchasing long-term bonds of supporting credit institutions, providing special loans, supporting the implementation of recovery plans... In order for the deposit insurance organization to effectively carry out its new role, functions and tasks, the Law on deposit insurance needs to be supplemented and amended to suit its new tasks and situation. Therefore, the Action Program needs to focus on doing research and proposing amendments to the Law on deposit insurance not only to solve problems in the practical implementation of the Law but also to create a solid legal basis for DIV to effectively deploy new functional roles and tasks in the Law on Credit Institutions (amended).
To monitor, report, and evaluate the level of achievement of specific goals and implement tasks/solutions, the Action Program is being developed and consulted with clear regulations on implementation deadlines and responsibilities of units in DIV for each goal, task/solution, as well as the corresponding information and reporting regime for each task. In addition, the Action Program also clearly and specifically stipulates the output results of each goal and task/solution, including projects, reports, plans, processes, and proposed amendments to the Law on deposit insurance.
At the same time, to effectively implement the Action Program, it requires the efforts and determination of the entire Board of Directors and staff of DIV. Specifically, the Board of Directors of DIV needs close guidance in developing and implementing the Action Program. Accordingly, in addition to disseminating the Deposit Insurance Development Strategy and Action Program to each unit and staff of DIV, the Board of Directors need to have measures to monitor and evaluate the implementation situation to grasp progress of implementation of tasks/solutions of the Strategy; the level and ability to achieve the goals of the Strategy set for each stage and when summarizing the implementation of the Strategy; and difficulties and obstacles in the implementation process and proposed additions and adjustments to the goals and tasks/solutions of the Strategy. Therefore, in the process of carrying out assigned responsibilities, units need to periodically report implementation results through: (i) Annual thematic reports on progress in implementing tasks and solutions of Deposit insurance development strategy; (ii) Preliminary report on the results of implementing the Deposit Insurance Development Strategy by 2025, assessing the level and ability to achieve the Strategy's objectives, editing and supplementing tasks and solutions (if necessary); and (iii) Report summarizing the results of implementing the Deposit Insurance Development Strategy by 2030.
Because of the importance and special significance of the Deposit Insurance Development Strategy for DIV in particular as well as the development of the banking industry in general, DIV needs high determination to build the Action Program in the spirit of the deposit insurance development. The content of the Program needs to be consistent with the actual conditions and resources of DIV to support DIV to successfully implement the Deposit Insurance Development Strategy, contributing to promoting strengths and overcoming limitations in current DI policy, strengthening the protection of the legitimate rights and interests of depositors, enhancing public trust in the banking system and contributing to the safe and healthy development of the country's economy.
Communication Department
