Christian Grajek, DSIK’s regional coordinator. (Photo courtesy of DSIK)

Thank you for joining us, Mr. Grajek. What should we know about DSIK?

The German Sparkassenstiftung for International Cooperation (DSIK) is the development-policy arm of the Savings Banks Finance Group. Currently, about 48 million of 83 million Germans have accounts in savings banks which channel savings deposits back into the business cycle within the same region in the form of loans to boost local development. Savings banks play an important role in providing financial security for disadvantaged people in Germany. We’re glad that savings banks have been enhancing international cooperation through the Savings Banks for International Cooperation or DSIK.

Could you give us more details about the organization’s activities in Vietnam?

DSIK has helped the Vietnam Women's Union (VWU) professionalize microfinance and microinsurance activities. We were invited by the State Bank of Vietnam to support the implementation of the National Financial Inclusion Strategy. The task covers a review of the legal framework for microfinance institutions and their contributions to the provision of financial services and financial education for the public. We’re discussing the supply of appropriate radio programs and the development of a financial education app for the Vietnam Bank for Social Policy. In addition, lecturers from the National Economics University, Vietnam Banking Academy, Banking University of Ho Chi Minh City, and Vietnam Women's Academy will be trained to provide expertise to financial institutions in Vietnam.

What will DSIK do in the coming years to expand its activities in Vietnam?

We have big plans in Vietnam. We’ll continue to expand the project budget, the portfolio of activities, and the number of project partners, and increase the number of employees. We’ll likely open another office in either HCM city or the central region in the medium term. Macroscopically, we plan to focus more on legal frameworks to protect the finances of consumers. In this area, DSIK is considered a "world champion" in Germany. This plan can be well integrated into activities of the Central Bank and universities. We also want to increase cooperation with universities as a partner institution, but that will require more discussions with the Ministry of Education and Training because. As I explained at the beginning, savings banks are the biggest trainers with the right skills in Germany’s financial sector.

Thank you, Mr. Christian Grajek, DSIK regional coordinator and chief representative in Vietnam, for granting VOV this interview.