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Mr. Dang Duy Cuong – DIV General Director presenting a commemorative gift to Mr. Andrey Melnikov – DIA General Director
The DIA’s delegates attending the seminar included Mr. Andrey Melnikov – General Director; Ms. Maria Filatova – First Deputy General Director; Ms. Natalia Fedorova – Deputy General Director; Mr. Nikita Klyuev – Deputy Head of Research and Development Department.
The Vietnamese delegation featured Ms. Le Thi Hong Ha - Deputy Director of the Economic Department at the Economic and Financial Committee of the National Assembly; Ms. Vu Ngoc Lan - Deputy Director of the Legal Department at the State Bank of Vietnam (SBV), and other representatives from the SBV, Ministry of Finance, Economic and Financial Committee, and Law and Justice Committee of the National Assembly.
On the DIV side, there were Mr. Dang Duy Cuong – the DIV General Director and members of the Board of Directors, Board of Management; Controllers; leaders and staff of headquarters’ departments and the regional branch in Hanoi participating on-site while other regional branches of the DIV participated via online platform.
In his opening remarks, Mr. Dang Duy Cuong – DIV General Director affirmed that the cooperation relationship between the DIV and DIA has grown closer, particularly following the signing of a Memorandum of Understanding (MOU) in 2019, which was extended in 2024. He noted that the DIA is a deposit insurer with extensive experience not only in deposit insurance reimbursement but also in the temporary administration, resolution, and liquidation of troubled credit institutions. Learning from DIA’s experience will enable DIV to improve the effectiveness of depositor protection and enhance its role in resolving weak credit institutions. This is particularly important as the DIV has been making efforts to revise the Law on DI to expand its functions, improve its financial capacity, and contribute more actively in the restructuring of the banking system.
Mr. Andrey Melnikov – DIA General Director, expressed his honor in attending the seminar and emphasized that every experience-sharing session contributes to promoting long-term cooperation between the two deposit insurers.
Introducing DIA, Mr. Melnikov said that the DIA was established in 2004 and operates under the Federal Law on the Insurance of Deposits in Banks of the Russian Federation”. Initially, DIA focused on minimizing risks and reimbursing DI to individual depositors. However, the scope of its functions has since expanded to include collecting premiums, managing deposit insurance funds, participating in resolving insolvent financial institutions, managing the bank liquidation process, as well as protecting customers of pension funds and life insurance companies, etc.
The DIA General Director expressed high appreciation for the interest shown by the DIV in the operating model of the DIA, noting that the two organizations have many similarities. He expressed hope that the practical lessons shared by the DIA during the seminar will play a significant role in supporting the DIV as it amends the Law on Deposit Insurance and accelerates its reform process.
“The DIA is committed to continuously studying international experiences to enhance our operational performance. We also wish to learn from the DIV's approach to deposit insurance, which will help us broaden our perspective and effectively apply relevant practices in our own system,” affirmed Mr. Melnikov.
During the seminar, the delegates listened to detailed presentations by DIA speakers on several key topics. These included an overview of the DIA and its experience with DI reimbursement, digital transformation strategy of the Russian Federation, service digitalization of the DIA, and the experience gained in resolving and liquidating insured credit institutions.
Following the presentations, Vietnamese delegates and DIA representatives engaged in a lively discussion session moderated by Ms. Phan Thi Thanh Binh – the DIV Deputy General Director. This session aimed to clarify DIA's practical experiences, focusing on issues such as bank recovery process, deposit insurance reimbursement, the impact of digitalization on reimbursement timelines, measures to support weak banks as well as
expansion of DI coverage.
In his closing remarks at the seminar, Mr. Dang Duy Cuong – the DIV General Director, expressed his gratitude to the DIA representatives for their in-depth and practical presentation on deposit insurance, especially in the DI reimbursement, resolution, and liquidation of weak financial institutions. He emphasized that the DIA's expertise has provided a comprehensive understanding, enabling the Vietnamese delegates to better understand the deposit insurance model applied in the Russian Federation, as well as effective strategies for protecting depositors and ensuring the stability of the financial system.
Building on this knowledge, the DIV General Director expressed hope that the DIA’s experience will be studied and applied by delegates from agencies of the National Assembly, ministries, and departments. This will aid in the development and amendment of the Law on Deposit Insurance, ultimately improving policies and enhancing the role of DIV within the national financial system.
As part of the working agenda in Vietnam, DIA and DIV held a bilateral meeting to discuss their cooperative activities for the future.
Department of Research and International Cooperation (Translation)
