Many have called the proposed new measure unfair.
“Customers should have the rights to receive claim money in Vietnamese
dong, foreign currency or precious metals,” said Chairman of the Finance
and State Budget Council Phung Quoc Hien.
Social Affairs
Committee Chairwoman Truong Thi Mai said that bank deposit insurance
should be established following advanced risk management models to
minimise unexpected bankruptcy risks and protect legal rights.
In the context of
increasing the number of banks and transactions in Viet Nam, the deposit
insurance model should be researched carefully to minimise risk.
Deputies agreed
that the law targets individual savers and should be managed by the
State Bank of Viet Nam. A limit on insurance payments should be
regulated, but be higher than the current ceiling level of VND50 million
(US$2,400).
Money from deposit
insurance funds should be invested in the business of commercial banks
instead of lying dormant in State Bank coffers.
Relating to the
draft of Law on Anti-Money Laundering, deputies agreed that it could
help in sustainable development amidst international commitments.
It was agreed that
the law be called the Law on Anti-Money Laundering instead of the Law
on Anti-Money Laundering and Terrorism, to keep matters of terrorism
separate.
Anti-money
laundering activities should be managed by the Government with support
from relevant bodies such as the State Bank, the Ministry of Security,
procuracy and court sectors.
NA Chairman Nguyen
Sinh Hung said that the law should focus on activities relating to the
use of bad (laundering) money to support terrorism while legal money
funding terrorism should be dealt with in accordance with the Law on
Terrorism prevention to be submitted to the NA for approval next year.
Chairman of the
Council for Nationalities Ksor Phuoc said that money laundering
detection and prevention would be the responsibility of the bank sector
while inspection and prosecution belong to the police, procuracy and
court sectors to increase co-operation.
Source: VietNamNet/Viet Nam News