NDIF

On October 29th, a five-member delegation of the Deposit Insurance Fund of Vietnam (DIV) visited NDIF. The group, led by Dr. Bui Khac Son CEO of DIV was keen on gaining experience on the co-operation of the Hungarian financial safety-net institutions, the legislative provisions on depositors’ protection, as well as lessons learned from the nearly two decades of experience of the NDIF.

The visit meant the first official bilateral meeting between the two organizations. Andras Fekete-Gyor, Managing Director of the NDIF held presentation on the experiences of early 90's bank consolidation (recapitalization) of the banking system, which was welcomed by the guests. Vietnam has currently similar problems with its own banking system.

In addition, an overview was also given about the ongoing professional debates of the EU Commission’s legislative proposals over Deposit Insurance, as well as Crisis Resolution and Restructuring Directives.