THE Philippine Deposit Insurance Corp. (PDIC) and the Deposit Insurance of Vietnam (DIV) signed a memorandum of understanding (MOU) in Phu Quoc, Vietnam on Nov. 8, 2023, renewing the mutual commitment to further enhance cross-border cooperation between the two deposit insurance agencies.
The MOU formalizes the two agencies’ intent to continue their partnership following the conclusion of the five-year agreement signed in November 2018.
The new agreement provides for the exchange of knowledge and experiences between the two deposit insurance agencies to mutually enhance the effectiveness of their respective deposit insurance systems.
The knowledge-sharing activities cover the areas of deposit insurance, receivership and liquidation, bank resolution, risk management, premium assessment, sources and methods of funds, information technology for database administration, legal and administrative procedures, and public awareness issues.