Decision No. 132/2009/QĐ-TTg amends certain articles of the Financial Management Regulation for Vietnam Deposit Insurance, abolishes the special bonus for internal staff, and supplements bonuses for external staff. The Decision takes effect from December 29, 2009.
Scope of application
Vietnam Deposit Insurance
Key points
- Vietnam Deposit Insurance → no longer provides special bonuses for internal staff (Clause 8 Article 13 has been abolished)
- Vietnam Deposit Insurance → may provide bonuses to external staff at levels determined by the Board of Directors (Point c Clause 3 Article 18)
- Amounts deducted from expenses for rewarding external staff from January 1, 2009 until the effective date of the Decision must be returned to the income of Vietnam Deposit Insurance
- Vietnam Deposit Insurance → implement this provision from December 29, 2009
- Relevant agencies → are responsible for enforcing the Decision
🌐 Social impact of this document
- Positive impact: Creates motivation for both internal and external staff to improve technical skills and business processes.
- Negative impact: Reduces bonus costs for internal staff, which may affect their work motivation.
❓ Frequently asked questions
Does Vietnam Deposit Insurance provide special bonuses for internal staff?
No, Clause 8 Article 13 has been abolished, so Vietnam Deposit Insurance no longer provides special bonuses for internal staff.
Who can Vietnam Deposit Insurance reward and how much?
Vietnam Deposit Insurance may reward individuals and units outside Vietnam Deposit Insurance at levels determined by the Board of Directors.
What should be done with amounts deducted from expenses for rewarding external staff?
Amounts deducted from expenses for rewarding external staff from January 1, 2009 until the effective date of the Decision must be returned to the income of Vietnam Deposit Insurance.
When does this Decision take effect?
This Decision takes effect from December 29, 2009.
Which agencies are responsible for enforcing this Decision?
The Minister of Finance, Governor of the State Bank of Vietnam, Chairman of the Board of Directors, and General Director of Vietnam Deposit Insurance, along with relevant agencies, are responsible for enforcing the Decision.
Full text
Pursuant to …;
Amending and supplementing certain provisions of the Financial Management Regulation for the Deposit Insurance of Vietnam issued together with Decision No. 13/2008/QĐ-TTg dated January 18, 2008 of the Government Prime Minister.
PRIME MINISTER
Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to Decree No. 89/1999/NĐ-CP dated September 1, 1999 of the Government on Deposit Insurance;
Pursuant to Decree No. 109/2005/NĐ-CP dated August 24, 2005 of the Government amending and supplementing certain provisions of Decree No. 89/1999/NĐ-CP dated September 1, 1999 of the Government on Deposit Insurance;
At the proposal of the Minister of Finance,
Pursuant to …;
Article 1. Repealing Clause 8 of Article 13 of the Financial Management Regulation for the Deposit Insurance of Vietnam issued together with Decision No. 13/2008/QĐ-TTg dated January 18, 2008 of the Government Prime Minister.
Article 2. Amending Point b of Clause 3 of Article 18 of the Financial Management Regulation for the Deposit Insurance of Vietnam issued together with Decision No. 13/2008/QĐ-TTg dated January 18, 2008 of the Government Prime Minister as follows:
"b) Special bonuses for individuals and groups of the Deposit Insurance of Vietnam who have innovative ideas improving technical processes and business procedures that bring about efficiency in operations. The level of bonus shall be decided by the Board of Directors of the Deposit Insurance of Vietnam."
Article 3. Supplementing Point c to Clause 3 of Article 18 of the Financial Management Regulation for the Deposit Insurance of Vietnam issued together with Decision No. 13/2008/QĐ-TTg dated January 18, 2008 of the Government Prime Minister as follows:
"c) Bonuses for individuals and units outside the Deposit Insurance of Vietnam contributing effectively to the operations of the Deposit Insurance of Vietnam. The level of bonus shall be decided by the Board of Directors of the Deposit Insurance of Vietnam."
Article 4. This Decision takes effect from December 29, 2009.
Amounts deducted from expenses for rewarding individuals and units outside the industry from January 1, 2009 until the date this document comes into force, the Deposit Insurance of Vietnam must return to its income.
Article 5. The Minister of Finance, Governor of the State Bank of Vietnam, Chairman of the Board of Directors, and General Director of the Deposit Insurance of Vietnam shall organize the implementation of this Decision.
Article 6. Ministers, heads of ministerial-level agencies, heads of government agencies, and Chairpersons of Provincial People's Committees and Municipal People's Committees directly under the Central Government shall be responsible for enforcing this Decision.
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