Trang Chủ
People's Credit Funds are known as the address providing capital and banking services to subjects with weak financial capacity (low-income people, households, small businesses...) access to capital from commercial banks in rural areas. This is also a group of the public that has little access to information and knowledge about the finance - banking - deposit insurance sector, thus vulnerable to negative information and developments. Therefore, for the communication programs implemented, the DIV aims to convey messages to raise awareness and build depositors' confidence in PCFs in particular and the system of credit institutions in general, increasing the operational efficiency of the deposit insurer, stabilizing the financial-banking system.
Communicating to the public, especially depositors in rural areas
In order to carry out the task of "disseminating policies and laws on deposit insurance" specified in Clause 14, Article 13 of the Law on Deposit Insurance (2012), the DIV has implemented many extensive communication activities with a broad spectrum in order to bringing policy to a wide range of different public. However, all of these programs are designed with a proportion of content aimed at depositors at PCFs with an appropriate format.
First of all, the DIV website can be mentioned. It is the information channel that represents the official voice of the DIV, conveying policy contents to the public with an average of more than 1 million visits per year. In addition to contributing a voice to convey the guidelines and policies of the State Bank of Vietnam (SBV) as well as the banking industry, the DIV website also has a separate section called “Depositors should know”. This is a column for posting information directly related to the rights and interests of depositors, constantly updated on new topics, of interest to depositors. Many news and articles in this column have directly met the information needs of depositors at PCFs, and at the same time disseminated deposit insurance policies in a soft and accessible manner.
The quarterly deposit insurance bulletin is also an important communication channel, updating information on policies and activities of the DIV as well as lessons learned from the practice of deposit insurance in the world. The bulletin is sent to all insured institutions, including PCFs, thereby providing information to leaders and transaction officers at these credit institutions to ensure they have knowledge, understanding about deposit insurance to explain to depositors at the most basic level when necessary.
In addition, in 2019, DIV completed the compilation and publication of the Deposit Insurance Handbook for depositors. This is an important document that covers the basics of deposit insurance policy from a depositor's perspective. The handbook was used to distribute to depositors at communication events. At the same time, with the compilation of specific, direct content according to each question, each issue, and easy to understand, grounded and logical explanations, the Handbook is the basis for the communication and explanation of the deposit insurance policy, especially for depositors in rural areas.
To ensure the coverage of deposit insurance policy information nationwide, the DIV has cooperated with newspapers with a large readership, especially those aimed at employees and agriculture readers. Articles are published simultaneously on the electronic newspaper and the printed version (if any) in order to reach a diverse audience. The content of the articles revolves around the core contents of the deposit insurance policy, the activities of the DIV, and questions and answers about the policy. In order to influence depositors in rural areas, depositors at People's Credit Funds, DIV has proactively designed specific content suitable to meet the information needs of this audience, especially with regard to issues directly related to the interests of depositors such as: coverage limit, how deposit insurers and depositors are protected, thereby building and fostering public confidence in safety, sustainability of the banking system.
For radio and television products, the DIV also develops a variety of reportage content, documentaries, and skits to communicate the deposit insurance policy to broadcast at events as well as on central radio and television channels at central and local points. In particular, many contents are designed with the aim of targeting depositors in rural areas and depositors at People's Credit Funds such as a set of 3 skits produced in 2016 with the theme: "Depositors do not have to "buy" deposit insurance"; “Need to calm down before rumors” and “Greed for profit, harm yourself” have been widely used throughout the years in many media channels. Thereby, the deposit insurer has received many comments from depositors showing that the use of skits and clips to convey policy content will help these contents become close, soft and receptive to the part. public and attracted a lot of attention.
Depositors at People's Credit Funds – an important target audience
Since 2016, the DIV has issued a Guide to implementing communication work at the People's Credit Fund. This is the basis for the whole system of DIV to organize communication to staff at PCFs as well as directly to depositors.
In the year 2016-2017, the DIV regional branches focus on organizing communication events for the leadership and transaction staff of the People's Credit Fund. This is the special public audience of the deposit insurance policy, as they are both representatives of the organizations participating in the deposit insurance, as well as those who carry out banking operations, have direct contact with depositors and are identified by the deposit insurance as an intermediary through which to spread the policy, each PCF staff member is a communicator of the deposit insurance policy.
From 2018, the DIV regioanl branches carry out the integration of communication in the events of the People's Congress congress, in regular activities, thematic activities of political organizations, local associations such as Farmers' Union, Women's Union, Fatherland Front..., thereby meeting the demand of direct communication to depositors in rural areas, depositors at People's Credit Funds, and at the same time save costs, organizational manpower.
From 2019-2020, the combination of special examination activities for a number of PCFs is carried out under the direction of the Governor of the SBV, the DIV coordinate examination with communication in direct contact with depositors, thereby explaining the purpose of the examination as well as the basic contents of the deposit insurance policy. Therefore, depositors do not wonder or bewildered, and at the same time are ready to support the inspection work of DIV.
Besides, in 2017, the DIV carried out pilot implementation of deposit insurance policy communication on the postal system and from 2018 continue to expand the area. Exploiting communication through VNPOST's system is an effective and cost-effective method with a wide reach. Through that, information about deposit insurance policy is brought to remote areas, complex areas with a nationwide network of post offices, with a large number of regular customers. Communal cultural and post offices not only provide postal and telecommunications services, but also carry out a number of activities of sending and receiving money, providing consumer goods, and at the same time serving as places for reading books, newspapers, and daily activities of culture of local residents. Average number of customers coming in and out for daily transactions at the post offices - communal culture is about 40 - 70 people perday, the number of people going in and out at the post offices at district/town level: average 300 person per day, even 400 - 500 people/day, in which customers are mainly the elderly, women, depositors in rural areas... that are the main objects of communication of the DIV.
Continue to improve the effectiveness of communication
The information and communication work of the DIV has been implemented with a clear orientation, synchronously and uniformly throughout the system. However, in order to improve the effectiveness of deposit insurance policy communication, especially to depositors at PCFs, there are a number of difficulties, limitations and solutions that can be listed as follows:
- Firstly, the Law on Deposit Insurance only stipulates that the DIV is responsible for disseminating the deposit insurance policy, but it does not stipulate that the insured institutions are responsible for coordinating the DIV in communication. At present, insured institutions participate in communication of deposit insurance policies mainly on a voluntary basis, but without legal binding, while these are also beneficiaries of the policy and at the same time also is the direct focal point for transactions, contacts with depositors, has advantages in disseminating deposit insurance policies. Therefore, in the process of proposing amendments and supplements to the Law on Deposit Insurance, the content should be in the following direction: specifying the responsibility of insured institutions to coordinate with DIV in propagating deposit insurance policies. Accordingly, the insured institutions in addition to listing the Certificate of participation in the deposit insurance also need to be responsible for coordinating the communication with the deposit insurer.
- Secondly, at present, the presence of deposit insurance policy in banking activities related to deposits is still low, thus not reaching the level of access to depositors. In order to ensure synchronization, the banking sector regulator should have a policy to direct the insured institutions to print and display the DIV logo and information about the coverage limit on savings cards, user interfaces, etc. deposit-related use cases to enable depositors to access deposit insurance policies and to build market discipline.
- Thirdly, the results of a study conducted by DIV in 2020 show that depositors not only need information about deposit insurance policies but also want to know about banking activities, information and developments in the banking system. Deposit insurance policy is an integral part of monetary policy and banking operations, and conversely, developments in banking activities can also affect depositors, leading to an impact on institutions and deposit insurance policy. Depositors at People's Credit Funds are vulnerable subjects due to lack of information and knowledge about finance - banking - deposit insurance. Therefore, it is necessary to expand the scope of the DIV's communication not only to distinguish the deposit insurance policies, but also to provide information on banking operations, guidelines and policies in general, and activities of the DIV, especially the contents. related to the depositor.
- Fourthly, at present, the period of special control for problematic PCFs is too long, leading to difficulties in implementing communication in these localities and even in neighboring areas. For areas where the PCF is weak but has not been handled thoroughly, communication is very sensitive. Even a small mistake in communication can cause depositors to react negatively and even cause local instability. When implementing broad-spectrum communication programs, the DIV must exclude these areas, because communication in these areas requires specific and separate communication plans. In the process of contact and communication at People's Credit Funds, the DIV also received many opinions wishing that the problematic funds would be handled smoothly, avoiding affecting the capital mobilization activities of the neighboring people's credit funds.
- Fifthly, through the practical implementation of communication activities, the coordination and facilitation of the SBV branches in provinces and cities and local authorities is extremely necessary. Especially, in rural areas, in the areas of operation of PCFs, the voice of government agencies is very important, having the effect of reassuring people when credit institutions have problems. Therefore, it is proposed that the DIV continue to build and strengthen working relationships, have a close coordination mechanism with the above agencies to create a basis for effective communication.
- Sixthly, current regulations only state the rights and obligations of the deposit insurer, which is to disseminate policies and laws on deposit insurance. Meanwhile, the policy communication process shows that, in addition to the legal and policy contents, it is necessary to promote the image of the deposit insurer, thereby building public confidence in the deposit insurance policy in particular and the banking system in general. It can be said that the image of the deposit insurer is an integral and integral part of the deposit insurance policy, especially in times of crisis.
Communication Department
