Deposit insurance shall only apply for individuals depositing money in Vietnam Dong

14:52, 06/01/2013

This is a content specified in the Law on deposit insurance 2012 approved on June 18, 2012 by the National Assembly of Vietnam.

According to the Law on deposit insurance 2012 of Vietnam, deposit insurance applies to deposits that meet the following conditions:

- Deposit insured is the deposit of individuals deposited at the deposit insurance participating organization;

- In Vietnam Dong;

- In the form of term deposit, non-term deposit, saving deposit, certificates of deposit, promissory notes, bills and other forms of deposit.

Moreover, uninsured deposit includes:

- Money deposited at the credit organization of the individual who owns more than 5% of the charter capital of that credit organization.

- Money deposited at the credit organization of the individual who is a member of the member Board, member of Board of Directors, member of control Board, General Director (Director), Deputy General Director (Deputy Director) of that credit; Money deposited at the foreign banking branch of the individual who is the General Director (Director), Deputy General Director (Deputy Director) of that foreign banking branch.

- Money used to buy unknown valuable papers issued by the deposit insurance participating organization.

View more details at Articles 18 and 19 of the Law on deposit insurance 2012 of Vietnam, effective from January 01, 2013.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

10 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn