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Monday, July 15, 2024

Govt wants deposit insurance firm to expand capacity

By T. Dao

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HCMC – Deputy Prime Minister Le Minh Khai has approved a plan to develop the capacity of the Deposit Insurance of Vietnam by allowing it to raise chartered capital to VND10 trillion by 2025 and VND15 trillion by 2030.

According to the plan, the Government aims to expand the insurance coverage for depositors to 92-95% by 2025, the Vietnam News Agency reported.

The insurance payback time will be shortened to 30 days by 2025 and 15 days by 2030.

Meanwhile, the deposit insurer is allowed to diversify its investment portfolios to include government-guaranteed bonds, certificates of deposit, local government bonds and treasury bills, or deposit cash at banks.

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