Trang Chủ
As a member of IADI since February 2003, the Deposit Insurance of Vietnam (DIV) has continuously made efforts and actively participated in each IADI's activities, thereby receiving numerous benefits and remarkable results. On the one hand, expanding cooperation with advanced deposit guarantees in the world has helped DIV learn considerable knowledge and experience in organizational capacity building and DI professional development and update emerging trends, thereby improving the DIV's operational efficiency. On the other hand, with the spirit of proactive cooperation, responsibility, cohesion, and mutual development, the DIV has gradually affirmed its position and role not only in its country but also around the globe.
International cooperation promotes DI policy
During its 24-year development, the DIV has made significant milestones, from promulgating the Law on DI (2012) - the highest legal framework for DI activities - to finalizing the DI Development Strategy to 2025, with orientation to 2030 and proceeding to amend the Law on DI, with the ultimate aim of completing the legal framework, and meeting the practical requirements and assigned tasks of the DIV. In each stage of development, international cooperation activities play a significant role in promoting the improvement of DI policies through specific activities such as:
Firstly, proactively engaging in conferences, workshops, seminars, training programs, study visits, and research activities hosted by the IADI, Asia-Pacific Regional Committee (APRC), and international deposit guarantees.
Every year, the DIV actively takes part in conferences, workshops, seminars, training programs, study visits, and research activities hosted by the IADI, APRC, and international deposit guarantees to continuously learn from and enhance knowledge and expertise in the field of DI; At the same time, strengthens cooperative relationships with international deposit insurers as well as promotes its image and position in the international community. Apart from physical on-site attendance, the DIV has taken advantage of online attendance in as many conferences, workshops, seminars, and training programs as possible, creating favorable conditions for DIV's staff to learn from and update knowledge as well as emerging trends of DI worldwide.
Secondly, research international practices, research materials from conferences, workshops, seminars, training programs, and study visits to support research activities of the DIV.
In 2009, the Basel Committee on Banking Supervision (BCBS) and IADI issued the Core Principles for Effective DI Systems (the Core Principles), updated and revised in November 2014. The Core Principles were used as an official reference document for research and proposals related to the drafting process of Law on DI. Since then, they have played a consistent role in the DIV's later policy research activities.
From February 2017 to September 2018, the DIV implemented the Self-Assessment Technical Assistance Program (SATAP) with the support of IADI experts to evaluate the operational performance of the DIV compared to the Core Principles, thus making wise suggestions and recommendations. The results of SATAP have also become a valuable and reliable reference for DIV and state regulatory agencies in improving DI policies, reforming organizational operations, and investigating and imputing content in the process of amending the Law on DI in the future.
In addition, through IADI's annual surveys on DI, the DIV and other IADI members have jointly built the most extensive and up-to-date global database on DI to serve regularly for members' research and reference work. The DIV actively participates in and effectively utilizes the information of the annual surveys to serve the drafting process of the Law on DI, the DI Development Strategy to 2025, with orientation to 2030, the DI coverage scheme, proposals related to amendments and supplements to the Law on DI and annual applied research activities of DIV.
Thus, on the basis of the Core Principles, the SATAP results, and a series of research activities combined with international cooperation, the DIV has built a rich source of data and accumulated useful knowledge and experience in support of policy research, with the goal of improving the operations of the DI system, seeking towards the most suitable international practices for the practical situation in Vietnam.
Thirdly, being the host of conferences and workshops within the framework of IADI and APRC activities
The DIV has successfully hosted 02 important events corresponding to the developmental stage and position of the DIV in each period.
In support of research and arguing the Law on DI, the DIV successfully hosted the 5th Annual General Meeting of the Asia Regional Committee of IADI and an International Conference with the theme "Enhancing operational efficiency of DI" in 2007. This was the first and largest international event on DI ever held in Vietnam. The event attracted the participation of 15 jurisdictions as members of ARC (predecessor of APRC), international organizations, and representatives of Vietnamese ministries and departments to gather in the event to share experience on building an effective DI system in accordance with international practices and the specific characteristics of each jurisdiction. created, the DIV and competent Vietnamese agencies took this opportunity to further research effective DI models in other countries, thus establishing a legal basis for the proposal to develop the Law on DI.
In 2018, to enhance DIV's image and position in the international community and seek international experience in handling weak small-sized credit institutions, the DIV hosted the 16th Annual General Meeting of APRC and International Conference with the theme "The Role of the Deposit Insurers for small and medium-sized institutions." The event was participated by 186 international and domestic delegates, prestigious international organizations, and representatives of Vietnamese ministries and departments. Through the conference, domestic and international delegates had the opportunity to exchange and update their experience in handling weak small-sized credit institutions, thereby serving as a basis for proposals and consultation with Vietnamese regulatory agencies to complete the legal framework so that the DIV could contribute more to the process of restructuring the system of credit institutions and enhancing prudential supervision of the system of credit institutions, especially for small and medium-sized credit institutions.
In 2023, the DIV continued to host the technical assistance workshop of IADI APRC with the theme "Enhancing the role of deposit guarantees in early detection and timely intervention." This issue is of great concern to domestic and international entities in the context of recent big bank failures worldwide. In addition, in Vietnam, the DI Development Strategy to 2025, with orientation to 2030 approved by the Prime Minister, has set the goal of improving the quality and efficiency of DI operations, including the early detection and warning of potential risks for public institutions, and effectively participating in restructuring weak public institutions. These goals in the Strategy are the basis for the DIV to choose the theme for the 2023 APRC Workshop. Through this workshop, domestic and international organizations can learn knowledge and exchange experience on early detection and timely intervention of problematic credit institutions and the role of the deposit insurance in this activity, thereby proactively contributing to protecting the legitimate rights and interests of depositors and the safe and healthy development of the financial and banking system.
Fourthly, strengthen bilateral activities to enlist support from advanced and modern deposit warranties
In addition to the activities of IADI and APRC, the DIV has been proactively expanding bilateral cooperation with advanced deposit insurance in the region through signing Memoranda of Understanding (MOU). The DIV has signed with 07 deposit insurers from countries in the region, including Korea, Japan, Taiwan, Indonesia, the Philippines, Russia, and Laos so far. The signing of the MOU is the foundation for the relevant parties to carry out many effective cooperation activities, such as organizing workshops, seminars, training programs, human resource exchanges, and study visits to learn from the experience and successes of each DI system to apply to the actual situation of each country. Recently, through online seminars, the DIV and its MOU partners have constantly maintained experience-sharing activities, meeting the learning needs of DIV staff without being interrupted by contextual factors. structured, the DIV's officers and employees at different places can discuss operations directly with international experts and learn from and update knowledge more often than the previous traditional method. With flexibility, effectiveness and cost-saving, DIV will continue to organize experience-sharing activities with advanced and modern deposit guarantees through virtual methods.
Some solutions in the near future
Facing the difficulties and challenges in the assigned responsibilities and tasks, the DIV determines that it is necessary to continue to improve the system of legal documents for DI activities, ensuring relevance with the domestic situation and reaching international standards and practices. Furthermore, the DIV will proactively review legal documents to propose authorized agencies to amend, supplement, and promulgate relevant sub-law documents, ensuring effective implementation of DI policies. Therefore, international cooperation also needs to be further promoted to support upcoming policy research activities through the following ways effectively:
Firstly, continuing to participate actively and proactively in and make considerable contributions to conferences, workshops, training courses, study visits, and research activities within the framework of IADI, APRC and bilateral cooperation with other advanced deposit warranties.
Secondly, encourage and facilitate DIV staff to take part in training and improving their professional expertise through many forms, such as sending them abroad, or inviting international experts to Vietnam.
Thirdly, with accumulated experience organizing relatively large events, continuing to proactively host regional and international conferences. Attracting the participation of leading international experts, international agencies, and domestic agencies will help the DIV gain experience and knowledge in DI while continuously promoting the image of the DIV, the country and Vietnamese people to international friends.
Department of Research and International Cooperation
