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DEPOSIT INSURANCE VIETNAM
I. INTRODUCTION ABOUT THE DEPOSIT INSURANCE OF VIETNAM (DIV) D e posit I nsu r a n ce of Vie t n a m ( DIV), a St at e- owned Financial I nst it ut ion of Viet nam was est ablished on Novem ber 9t h 1999. DIV s funct ion is t o safeguard t he deposit ors legit im at e right s and int erest s, t o cont ribut e t o t he st abilit y of insured deposit I nst it ut ions and ensure t he safe and sound developm ent of t he banking indust ry. DIV is a non - profit organizat ion, operat ing under Governm ent s Degree, and is not governed by t he Law on Financial I nst it ut ions and t he Law on Insurance. DI V is one of t he regulat ors of t he banking and financial syst em . DI V is operat ing under Ordinance 89/CP and Amendment No. 109/CP.

Head office of DIV

located at 18

20F.,

Tower B, Vincom Cit y Tower, 191 Ba Trieu, Hanoi.

CURRENT LEGAL FRAMEWORK Decree No. 89/ 1999/ N - CP of the Government Decision No. 218/ 1999/ Q TTg of the Prime Minister Decree No. 109/ 2005/ N - CP of the Government 01/09/1999 On deposit insurance

09/11/1999

On the establishment of DIV On the amendment, supplement of a number of provisions of t he Governm ent s Decree No.89

24/08/2005

II. MAJOR FUNCTIONS OF DIV

1. Issue Certificate of Deposit Insurance for financial institutions; 2. Collect deposit insurance prem ium s from insured I nst it ut ions ( fixed premium of 0.15% per annum);

3. Reimburse deposit ors wit h st ipulat ed m axim um level as st at ed in t he regulation; 4. Supervise and m onit or t he com pliance, sound and safe operat ion of insured
Institutions (off- site Supervision and on- site Examination);

5. Support insured I nst it ut ions under financial difficult ies but not being under special control stage; in receivership and liquidat ion of t he bankrupt insured Institutions; 7. Advise St at e