Increase the limit of the deposit insurance payment in Vietnam on December 12, 2021

Bao Ngoc

13:32, 21/10/2021

On October 20, 2021, the Prime Minister of Vietnam issued Decision 32/2021/QD-TTg on deadline insurance payout.

According to the Decision, the maximum amount to be paid by the deposit insurance organization for all insured deposits in accordance with the Law on Deposit Insurance of Vietnam (including principal and interest) of a person at a deposit insurance participating organization when an insurance payment obligation arises is VND 125,000,000.

Currently, Decision 21/2017/QD-TTg of Vietnam stipulates the insurance amount to be paid for all insured deposits in accordance with the Law on Deposit Insurance (including principal and interest) of an individual at an institution participating in deposit insurance up to 75,000,000 VND.

Note: For deposits that have incurred the obligation to pay insurance but have not been paid according to the provisions of the Law on Deposit Insurance before December 12, 2021, the insurance payment limit shall comply with the provisions of the Law on Deposit Insurance. Decision 21/2017/QD-TTg dated 15/6/2017.

Decision 32/2021/QD-TTg of Vietnam takes effect from 12/12/2021 and replaces Decision 21/2017/QD-TTg.

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