(VOVworld) – Deputy Prime Minister Vu Van Ninh has called on the Deposit Insurance Agency of Vietnam to increase coordination with the State Bank of Vietnam to speed up the restructuring of credit institutions.

Deputy PM Vu Van Ninh highlights the need to soon outline a plan on deposit insurance payment and increase coordination to speed up the restructuring of credit institutions (Photo: VGP/Thanh Chung)

Addressing Tuesday’s ceremony in Hanoi to mark the sector’s 15^th founding anniversary, Ninh also asked the agency to further improve professional and governance capacity of its personnel to meet the integration requirements. He stressed the need to strengthen the execution of legal regulations on deposit insurance, and communications on state policies to build public trust in the national banking system. Ninh said the State Bank of Vietnam will soon submit to the Prime Minister a strategy on deposit insurance development for approval which will act as a foundation for the sector’s future activities. Deputy PM Vu Van Ninh addresses at the function:

“The State Bank of Vietnam, the Deposit Insurance Agency of Vietnam, and other relevant agencies should strictly implement missions regulated by the Law on Deposit Insurance and guidance. Lessons taken over the past 15 years will become practical foundations to supplement and adjust the current legal documents more properly. In the short term, a plan on deposit insurance payment, in line with the country’s new development situation, should be outlined to submit to the Prime Minister.”