Deputy Prime Minister Le Minh Khai has signed a decision approving a strategy on deposit insurance development to 2025 and vision towards 2030.

The strategy aims at three main goals: protecting the legitimate rights and interests of depositors, thus contributing to maintaining stability in credit institutions and foreign bank branches as well as ensuring the safe and healthy development of banks; improving the quality and efficiency of deposit insurance activities; and enhancing the financial capacity of deposit insurance organizations.

It targets raising the ratio of fully insured depositors among total insured depositors to 92-95 per cent, cutting the insurance payment deadline to 30 days by 2025 and 15 days by 2030, and having 45 per cent of depositors grasp the core contents of the deposit insurance policy by 2025 and raise the rate to 50 per cent by 2030.