Practice and policy proposals for Vietnam in the field of Financial Consumer Protection

The international conference with the theme "Financial Consumer Protection - Practice and Policy Proposals for Vietnam" co-organized by The VNU University of Economics and Business (VNU-UEB) and Vietnam Deposit Insurance took place on August 9, 2021 with the participation of more than 200 domestic and international participants.

In recent years, Vietnam has witnessed the remarkable development of financial products and services in terms of quality, quantity and accessibility, making the task of protecting financial consumers urgent. This not only requires efforts from the financial service providers or the need to raise consumer awareness, but also ask for the participation of regulators to develop and enact practical and effective policies to meet the requirements in the context of rapidly growing new financial services in Vietnam.

 

Thus, the international conference on "Financial Consumer Protection - Practice and Policy Proposals for Vietnam" co-organized by the VNU University of Economics and Business and Vietnam Deposit Insurance took place on August 9th, 2021 with the participation of more than 200 domestic and international participants. The conference is sponsored by the National Science and Technology Development Fund (NAFOSTED), and lies within the framework of the Annual Workshop of the International Institute of Financial Consumers (IAFICO). The conference is a forum for managers, scientists and experts to exchange experiences, views and knowledge, and gives practical solutions on financial consumer protection in Vietnam.
 

The conference welcomed the speakers: Professor Man Cho, President of the International Academy of Financial Consumers; PhD. Dinh Thi Thanh Van, Associate Dean of The Faculty of Finance and Banking, VNU University of Economics and Business cum Founder of Vietnam Personal Finance Network; Prof.PhD. Andreas Stoffers, SDI Munich, International University of Applied Sciences; Mr. Klaus Remmer, Sparkasse Essen Bank, Germany.

 

During the conference, the speakers, regulators and researchers discussed the following ideas (1) Vietnam's policy proposals in protecting financial consumers; (2) Experiences in developing the Financial Consumer Protection Law and the challenges of enforcing these regulations in the banking sector in countries around the world; (3) Practical digital consumer protection in Vietnam and some other countries; (4) Bank experiences in protecting its customers' finances. These issues are analyzed and discussed in depth through exchanges and sharing at the conference as well as the contributions of national and international authors. These researches and insights will be the basis for practical solutions and policies to ensure the safety of financial consumers in Vietnam.

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Tu Thanh (Trans.)

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