Vietnam, Indonesia step up cooperation in financial supervision

09:08 | 30/11/2019 Finance - Banking

A delegation of the Vietnamese National Financial Supervisory Commission led by its Vice Chairman Nguyen Van Khach visited and held working sessions with agencies in Indonesia’s financial safety network in Jakarta from November 24-26.

At a working session - Photo: VNA

The visit aimed to enhance cooperation in issues of Vietnam’s interest towards applying international practices such as microfinance safety supervision policy, financial group supervision framework, experience in running the fiscal policy and effective management of public investment, early warning for risks and bank restructuring.

The delegation held working sessions with the Governor of the Bank Indonesia, the Vice Chairman of the Financial Services Authority of Indonesia, leaders of the Indonesian Ministry of Finance, the General Director of the Indonesia Deposit Insurance Corporation and the Vietnamese Ambassador to Indonesia.

The Indonesian officials introduced macro-supervision model, cooperation mechanism to offer early warning for risks and ensure financial stability, as well as support for the economy for each period.

The Indonesian side shared experience in building legal framework and measures to monitor financial groups, running the fiscal policy to propel economic growth amid global economic downturn at present, efficiency of public investment management, and risks of deposit organisations.

Both sides agreed to share professional expertise to improve the efficiency of financial supervision, helping to maintain financial stability of each country and the region.

Theo VNA