CDIC Chairman Hsien-Nung Kuei led a delegation to Hanoi, Vietnam joining the Memorandum of Understanding (MOU) renewal meeting with the Deposit Insurance of Vietnam (DIV) on 10 December 2015. In their joint announcement, both CDIC Chairman Kuei and DIV Chairman Mr. Nguyen Quang Huy believed that renewal of the MOU would bring the relationship of the two organizations closer and further. It was also recognized that, as the two-way movement of the ROC (Taiwan) and Vietnamese banking industries was strengthened, the MOU would be important not only for enhancing cooperation between CDIC and DIV but also for building a solid foundation to facilitate cross-border banking communication.
The delegation led by Chairman Kuei participated in the subsequent Joint Workshop on Information Sharing and Differential Premium Systems hosted by DIV on 11 December 2015. The Workshop was attended by delegates of supervisory authorities and deposit insurance agencies from four different jurisdictions including Indonesia, Laos, Vietnam and Taiwan. Among other things, Ms. Huey-Rong Lue, Deputy Director General of the Banking Bureau, Financial Supervisory Commission was a key delegate and made several remarks from the viewpoint of the supervisory authorities.
In the Workshop, CDIC Chairman Kuei was invited to deliver a keynote speech on the topic of “Lessons Learned from Recent Financial Crises: CDIC’s Perspective”. Ms. Annie Cheng, Director of the Risk Management Department and Ms. Lisa Hsi, Deputy Director of the Business Department of the CDIC also gave the presentations of “Information Sharing among Safety-net Players” and “Differential Premium Systems” respectively in an attempt to share the CDIC experiences with other participants of the Workshop.
During the event, a bilateral meeting co-hosted by CDIC Chairman Kuei and Mrs. Sengdaovy Vongkhamsao, Director General of Laos Depositor Protection Fund (DPF) was held for the discussion of future cooperation between the supervisory authorities and deposit insurance agencies of the two jurisdictions. A consensus has been reached by both parties to strengthen bilateral relationships via various types of cooperation such as the signing of a MOU or a Letter of Exchange, etc. It was also agreed by both parties to engage in follow-up communications as soon as possible.
In the afternoon session of the Workshop, a round table meeting was arranged for the discussion of issues regarding bank liquidation and recoveries among CDIC Chairman Kuei, Indonesia Deposit Insurance Corporation (IDIC) Chairman Mr. Halim Alamsyah, DPF Director General Mrs. Sengdaovy Vongkhamsao and DIV Chairman Mr. Nguyen Quang Huy. Ms. Yvonne Fan, CDIC Director of the International Relations and Research Office, particularly gave a presentation of “Bank Resolution and Asset Recoveries – CDIC Experiences” during the round table meeting.
Last but not the least, CDIC Chairman Kuei and the delegation paid a courtesy visit to Mr. Chih-Peng Huang, the Representative (Ambassador) of the Taipei Economic and Cultural Office in Hanoi, Vietnam. Mr. Kuei and Mr. Huang had a pleasant conversation on the bilateral financial interactions between the ROC (Taiwan) and Vietnam.