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Banker calls for Canadian help in deposit insurance
A leading banking official has called for the Canadia-based Deposit Insurance Corporation of Ontario’s (DICO) assistance in drafting the Law on Deposit Insurance to lay a legal foundation for operations in the field.
The State Bank of Vietnam’s Governor Nguyen Van Giau also proposed that DICO regularly share its operational experiences with Deposit Insurance of Vietnam (DIV) during his meeting with DICO President-cum-CEO Andrew Poprawa in Hanoi on July 16.
Poprawa spoke highly of the results made by DIV, a state-owned and non-profit financial institution, which is operating under direct guidance of the governor of the State Bank of Vietnam.
He said, however, that DIV should pay more attention to inspecting credit institutions, guide them in risk management and take distant supervision measures.
A DIV report showed that DIV conducts quarterly supervision of all institutions involved in deposit insurance, including 76 commercial banks, 10 non-bank credit institutions and 992 people’s credit funds.
Its supervision activities have focused on forecasting and warning risks and designing specific risk assessment approaches for every institution engaging in deposit insurance.
VNA
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