Trang Chủ
Established in 1971, the DICJ is one of the oldest and most developed deposit guarantees in Asia with extensive experience in dealing with troubled financial institutions. In the context that the DIV and relevant agencies in Vietnam are urgently investigating, and implying amendments and supplements to the Law on Deposit Insurance, the delegation included leaders of the DIV and the State Bank of Vietnam, with an aim of learning from the experiences of DICJ and JFSA.
At the meeting with DICJ, the DICJ represented the international best practices in bank resolution developed by the International Association of Deposit Insurers (IADI), the failure resolution framework in Japan, including the failure resolution process under normal conditions and in the event of a crisis, as well as the role of the DICJ throughout the resolution process. The discussion section went on enthusiastically and positively with many questions about the role of DICJ in dealing with troubled financial institutions raised by the delegation and detailed answers from the DICJ.
DIV delegation posing for a photo with the DICJ leaders and staff
Speaking at the meeting, Mr. Pham Bao Lam – DIV Chairman of the Board of Directors - emphasizes the importance of exchanging and learning knowledge and experience among deposit guarantees to develop effective systems. Mr. Pham Bao Lam gave thanks to the DICJ for its enthusiastic support to the DIV since the two parties signed a Memorandum of Understanding in 2015, and expressed his wish to continue the experience sharing with the DICJ, especially in the context that the DIV is currently conducting researches for amendments and supplements to the Law on Deposit Insurance. In response, Mr. Hidenori Mitsui – DICJ Governor, expressed his appreciation for the close relationship between the two parties, and the willingness to strengthen exchanges and cooperation with the DIV in the near future.
Mr. Pham Bao Lam - DIV Chairman of the Board of Directors - presented souvenirs to Mr. Hidenori Mitsui – DICJ Governor
Within the schedule of the study visit, the delegation also visited and worked with the JFSA. The JFSA representative - Mr. Okada Hiroshi, Deputy Director General of Supervision Bureau and National Director in charge of Vietnam - Japan relations, shared about the coordination mechanism between regulatory agencies in the financial safety net, as well as the roles and authorities of the JFSA in dealing with troubled financial institutions .
Mr. Pham Bao Lam – DIV Chairman of the Board of Directors presented souvenirs to Mr. Okada Hiroshi - Deputy Director General of Supervision Bureau, JFSA
The study visit of the DIV and the SBV has fostered good results. The meetings with the DICJ and the JFSA have provided useful information to the DIV and relevant agencies in Vietnam, especially during the process of drafting amendments and supplements to the Law on Deposit Insurance. In addition, meetings and contacts with the DICJ and the JFSA not only deepened the relationship between the parties but also opened up new collaborative opportunities in the future, actively contributing to the development, innovation, and integration of DIV in the international arena.
Department of Research and International Cooperation (translation)
