Laos, Thailand cooperate in deposit insurance protection
Laos, Thailand cooperate in deposit insurance protection
The banking sectors from Laos and Thailand have enhanced their cooperation on deposit insurance in preparation for the Asean Economic Community integration in 2015.
The deposit insurance review meeting took place in Champassak province and was co-chaired by the Bank of the Lao PDR's Depositor Protection Fund (DPF) Director Ms Sengdaovy Vongkhamsao and Director of the Thailand Deposit Protection Agency (DPA) Mr Sorasit Soonthornkes.
At the meeting, delegates from the two institutes reviewed works on the deposit protection fund and its member management.
Both sides agreed to carry on their cooperation in various sectors in the years ahead, in particular technical cooperation between the two institutes, with the DPA to deliver trainers to train DPF staff on how to use necessary software and hardware systems in deposit insurance system development.
They will also provide assistance on methods of monitoring and inspection, analysing methods of business operation for commercial banks, as well as creating advance security warning systems to DPF members.
In the meantime, DPF will send its staff to train in Thailand. The institutes also propose to establish a cooperation plan and assistance on juristic acts.
“This meeting is a good start on deposit insurance works and it contributes to strengthening the finance and banking systems of the two countries in the near future,” Ms Sengdaovy said.
In addition, it has enhanced cooperation and strengthened relations between the governments of Laos and Thailand, she said.
vientiane times
