Decision No. 21/2017/QD-TTg dated June 15, 2017 of the Prime Minister on insurance money limit

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Issuing body:	Prime Minister	Effective date:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Official number:	21/2017/QD-TTg	Signer:	Nguyen Xuan Phuc
Type:	Decision	Expiry date:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Issuing date:	15/06/2017	Effect status:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Fields:	Insurance

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THE PRIME MINISTER		THE SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness
No. 21/2017/QD-TTg		Hanoi, June 15, 2017

DECISION

On insurance money limit[1]

Pursuant to the June 19, 2015 Law on Organization of the Government;

Pursuant to the June 18, 2012 Law on Deposit Insurance;

Pursuant to the Government’s Decree No. 68/2013/ND-CP of June 28, 2013, detailing and guiding the implementation of the Law on Deposit Insurance;

At the proposal of the Governor of the State Bank of Vietnam,

The Prime Minister promulgates the Decision on insurance money limit.

Article 1. Scope of regulation

This Decision prescribes the insurance money limit prescribed in Clause 2, Article 24 of the Law on Deposit Insurance.

Article 2. Subjects of application

1. Insured depositors.

2. Organizations participating in deposit insurance.

3. Deposit insurers.

4. Other organizations and individuals involved in deposit insurance activities.

Article 3. Insurance money limit

The payable insurance money amount for all deposits covered by insurance in accordance with the Law on Deposit Insurance (including principal and interest) of an individual at an organization participating in deposit insurance must not exceed VND 75 million (seventy five million Vietnam dong).

Article 4. Effect

This Decision takes effect on August 5, 2017.

Article 5. Organization of implementation

Ministers, heads of ministerial-level agencies, heads of government-attached agencies, the Chairperson of the Board of Directors and Director General of the Deposit Insurance of Vietnam, chairpersons of boards of directors, chairpersons of members’ councils, directors general (directors) of credit institutions and foreign bank branches and heads of related agencies, organizations and units shall implement this Decision.-

Prime Minister
NGUYEN XUAN PHUC

[1] Công Báo Nos 467-468 (27/6/2017)

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Decision No. 21/2017/QD-TTg dated June 15, 2017 of the Prime Minister on insurance money limit

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