The State Bank of Vietnam (SBV) held a working session with Deposit Insurance of Vietnam (DIV) and instructed DIV to focus resources on advising SBV throughout the drafting of an amended Deposit Insurance Law, which SBV is preparing to submit for National Assembly enactment in 2025. SBV also asked DIV to play a more active role in supporting SBV’s inspection and supervision functions, particularly for the People’s Credit Fund system. For 2025, SBV has assigned DIV to conduct safety inspections of 120 People’s Credit Funds, 1.6 times the 2024 level. DIV was asked to review and update its coordination arrangements with SBV’s local network by replacing existing agreements with individual provincial branches with a new coordination framework for SBV’s regional branches, following SBV’s organisational streamlining. SBV also requested a concrete digital transformation programme, a review and longer-term upgrade plan for DIV’s IT systems to support inspection and supervision work, and noted DIV’s ongoing e-office and e-learning initiatives. On the legislative package, SBV signalled that the revised law should clarify DIV’s role over the next five to 10 years, including a larger role in early warning and participation in handling weak credit institutions, and supported proposals to broaden DIV’s investment options with effective risk controls, anchored on safety, liquidity, profitability and diversification. SBV’s leadership has approved the policy to research, draft and submit the amended law in 2025, and SBV sent the legislative proposal dossier for comment to relevant ministries and organisations on 14 February 2025. The Ministry of Justice has reported to the government on adjusting the 2025 legislative programme, including adding the amended Deposit Insurance Law for National Assembly consideration at its 10th session. SBV also asked its International Cooperation Department to support DIV’s inclusion in the World Bank’s expanded banking sector strengthening project, covering both support for the law’s development and capacity-building after enactment.
State Bank of Vietnam 2025-04-01
State Bank of Vietnam directs Deposit Insurance of Vietnam to resource the 2025 deposit insurance law revision and expand oversight of 120 People's Credit Funds
The State Bank of Vietnam (SBV) is working with Deposit Insurance of Vietnam (DIV) to draft an amended Deposit Insurance Law for the National Assembly in 2025. SBV has tasked DIV with enhancing inspection and supervision, particularly for the People’s Credit Fund system, and updating its coordination with SBV’s regional branches. Additionally, SBV seeks a digital transformation programme and IT upgrades for DIV, while supporting DIV's inclusion in the World Bank’s banking sector strengthening project.