Vietnam, Laos foster cooperation in deposit insurance

The Deposit Insurance of Vietnam (DIV) and the Depositor Protection Fund of Laos (DPF) have held talks to review their cooperation last year and exchange ideas for the future partnership.

vietnam, laos foster cooperation in deposit insurance hinh 0

The DIV delegation was led by Deputy Director General Vu Van Long while the Lao side was headed by DPF Director General Sengdaovy Vongkhamsao.

The two sides reviewed results of cooperation over the past year and discussed a plan for future cooperation as well as amendments to their signed Memorandum of Understanding (MoU). 

The DIV shared experience with the DPF in coordinating and implementing joint works with the World Bank and updated the other side on results of partnership with the WB last year.

The DPF wanted to learn from the DIV’s experience in capital management, deposit data collection, management and arrangement of information data and internal network systems, and human resource management.

The DPF suggested the two sides continue exchange experience in deposit insurance in 2020 with focus on exchange of data and supervision of their member banks following the International Association of Deposit Insurers (IADI) Core Principles for Effective Deposit Insurance Systems, for example, Cross-border Issues.

The DPF also collaborated with the DIV to organise a workshop on managing deposit protection funds and building people’s awareness with speakers from the DIV.

VNA