Trang Chủ
Not only growing in the number of credit institutions, but the total assets of the banking system are also continuously increasing along with the number of depositors and deposit balance. Thus, the issue of completing mechanisms and policies for deposit insurance activities, thereby the policy of protecting depositors of the Government has become increasingly urgent.
For Deposit Insurance of Vietnam (DIV), the Banking sector’s development strategy has emphasized that DIV is the model of a one-member limited liability company with 100% of charter capital held by the government with the State Bank of Vietnam (SBV) as the owner's representative agency; fulfill the objective of protecting the legitimate rights and interests of depositors, contributing to maintaining the stability of the credit institution system, ensuring the safe and healthy development of banking activities. In addition, strengthening financial capacity, improving operational capacity, perfecting the organizational model, improving staff qualifications, applying modern technology in order to well perform the tasks of supervision and examination, participating in special control, early detection and warning of potential risks to insured institutions; participating in effective restructuring of weak credit institutions; calculating and collecting deposit insurance premiums, managing capital, disseminating deposit insurance policies, and reimbursing in accordance with international practices and the provisions of Vietnamese legal documents; formulating and implementing the development strategy of deposit insurance to 2025, with orientation to 2030.
In addition, according to Directive No.06/CT-TTg dated March 12, 2019 of the Prime Minister on strengthening solutions to ensure operational safety and firmly consolidate the PCF system, the Prime Minister requested that the role of the Cooperative Bank of Vietnam and DIV be promoted in linking the system, providing financial support and dealing with difficulties of PCF, strengthening the role of participating in and supporting the inspection and supervision function of the SBV for PCF.
In the world, it can be seen that strengthening the role of deposit insurance organizations is also a trend of many countries, especially the role in handling weak insured institutions. International practice and international experience guidelines on the role of deposit insurance institutions in restructuring weak credit institutions and methods of handling insured institutions are relatively complete. enough. Specifically, the International Association of Deposit Insurers (IADI) issued the Core principles for effective deposit insurance systems, published basic and advanced guidelines on deposit insurance operations related to the role of deposit insurance. The role of deposit insurers in restructuring weak credit institutions such as early detection and timely intervention, bank handling, payment and communication activities.
Clause 1, Article 13 of the Law on Deposit Insurance stipulates that the deposit insurance organization has the right and obligation to formulate a deposit insurance development strategy for the SBV to submit to the Prime Minister for approval and organize implementation.
The international and domestic economic context proposes many opportunities and challenges for the Vietnamese banking industry in general and DIV in particular. DIV needs to orientate future directions in order to meet the Core principles for effective deposit insurance systems.
In the future, when the Law on Deposit Insurance is reviewed and amended, it is necessary to establish a strategic vision for deposit insurance activities in Vietnam, in order to clearly define goals and solutions, thereby completing the depositor protection mechanism, enhancing the role of deposit insurance policy in the banking system.
