The National Assembly has passed the Law on Deposit Insurance (amended), which takes effect on May 1, 2026.
Accordingly, this Law regulates deposit insurance activities; rights and obligations of deposit insurance beneficiaries, deposit insurance participants, deposit insurance organizations and state management of deposit insurance.
Deposit insurance aims to protect the legitimate rights and interests of depositors; contributing to maintaining the stability of the credit institution system, ensuring the safe and healthy development of banking operations.
This Law also stipulates that the state has policies to protect the legitimate rights and interests of depositors. At the same time, the state has policies to manage and use to preserve capital when implementing investment activities and increase the operating capital of deposit insurance organizations.
Regarding state management responsibility, the Law stipulates that the Government unifies state management of deposit insurance.
The State Bank of Vietnam is responsible to the Government for implementing state management of deposit insurance.
Along with that, ministries and ministerial-level agencies within the scope of their tasks and powers are responsible for coordinating with the State Bank of Vietnam to carry out state management of insurance deposits.
People's Committees at all levels within the scope of their tasks and powers are responsible for coordinating with state management agencies to carry out state management of insurance deposits deposited in localities.
Notably, this Law clearly states 5 prohibited acts:
Organizations participating in deposit insurance do not pay deposit insurance premiums; deposit insurance organizations do not pay or do not fully pay insurance premiums.
Fraud, forging dossiers, documents, data, and papers on deposit insurance; taking advantage of positions and powers to violate the provisions of the law on deposit insurance.
Obstructing and causing difficulties to damage the legitimate rights and interests of deposit insurance organizations, deposit insurance participants, deposit insurance beneficiaries and agencies and organizations related to deposit insurance.
