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The CDIC and the DIV, led by CDIC Chairman Mr. Norman H. Chu and DIV Chairman Mr. Pham Bao Lam, jointly announced the renewal of the MOU between the two organizations on 11th December 2021, to expand the bilateral cooperative relationship.
Effective from the 11th December 2021, the renewed MOU, extended for another three years, manifests a vision for the future enhancement of deposit insurance systems in cross-border cooperation and conforms to the IADI Core Principles for Effective Deposit Insurance Systems.
The public institutions of both the CDIC and the DIV have overseas offshoots set up in each other’s jurisdiction. Despite the fact that the financial and regulatory environments are different, professional dialogues and valuable experience exchange between the CDIC and the DIV brought have real benefits to the two deposit insurance systems, inter alia, in depositors' protection and financial stability.
Subsequent to the joint announcement, a bilateral meeting between CDIC and DIV will be held on 16th December 2021 to strengthen the partnership and cooperation between the two organizations.
