Pursuant to the Law on the Government Organization dated February 18, 2025; the Law on the State Bank of Vietnam dated June 16, 2010, the Government has issued Decree No. 26/2025/ND-CP dated February 24, 2025 stipulating the missions, functions, tasks, authorities and organizational structure of the State Bank of Vietnam (SBV).
Roles and Functions
Accordingly,the State Bank of Vietnam (abbreviated as the SBV) is a ministerial-level agency of the Government, acting as the Central Bank of the Socialist Republic of Vietnam; performs the State management functions of the monetary, the banking and the foreign exchange operations (hereinafter referred collectively as the monetary and banking operations); performs the role of a central bank as the money issuer, and as the bank for the credit institutions, and the provider of monetary services to the Government.
Tasks andAuthorities
The SBV performs the tasks and assumes the mandates as stipulated in the Law on the State Bank of Vietnam, the Law on the Government Organization, the Government’s regulations stipulating the functions, tasks, mandates and organizational structures of the Ministries and ministerial-level agencies, and other specific tasks and mandates as follows:
1. Submitting to the Government lawproposals, draft resolutions of the National Assembly,draft ordinances, draft resolutions of the Standing Committee of the National Assembly; draft decrees, resolutions of the Government based on the SBV’s approved annual programs and plans for the formulation of legal documents; and the resolutions, projects and schemes as assigned by the Government and the Prime Minister; the annual and long-term strategies and plans; the national target programs, action programs and the nationally critical projects and civil works under the SBV’s jurisdiction.
2. Submitting to the Prime Minister draft decisions, directives and other legal documents under the SBV’s jurisdiction or as assigned.
3. Promulgating circulars and other legal documents under the SBV’s jurisdiction; directing, providing guidance, supervising, inspecting and taking responsibility for arranging the implementation of the legal documents, programs, projects and development plans which have been issued or approved under the SBV’s jurisdiction.
4. Developing the annual inflation targets to be submitted to the Government; using tools to implement the national monetary policy, including the refinancing, the interest rates, the exchange rates, the regulatory reserves, the open market operations, the issuance of the SBV bills; and other tools and measures to implement the national monetary policy.
5. Implementing inventories, statistical surveys, collection and storage of information on the international and domestic economic, financial, monetary and banking situations under the SBV’s jurisdiction; conducting analyses and making projections on the monetary and banking operations; disseminating information on the monetary and banking operations in line with the applicable legal requirements.
6. Issuing, amending, supplementing and revoking licenses for the establishment and operations of the credit institutions, licenses for the establishment of the foreign bank branches, representative offices of foreign credit institutions, other foreign institutions with banking operations in Vietnam; issuing, amending, supplementing and revoking licenses for the provision of intermediary payment services by non-bank institutions; issuing, re-issuing, revising the substances in and revoking the institutions’ licenses for the provision of credit information services; issuing and revoking the registration certificates of micro-finance programs/projects; approving of the acquisition, merger, sale, division, and liquidation of credit institutions in accordance with the applicable laws.
7. Deciding on the special control measures overa credit institution which has made serious infringements against the monetary and banking regulations, or is facing serious financial difficulties, causing risks of compromising the safety of the entire banking sector, through the forms of: purchasing shares of the credit institution; terminating, temporarily suspending or relieving from duty of the manager or the leader of the credit institution; deciding on a merger, consolidation or liquidation of the credit institution; putting the credit institution under special control measures; performing other tasks and mandates in accordance with the applicable law on bankruptcy for credit institutions.
8. Approving of the tentative lists of persons to bevoted or appointed as members of the Boards of Directors, the Boards of Members, the Supervisory Boards, General Managers (Directors)/CEOs of the credit institutions; approving of other changes in line with the Law on Credit Institutions.
9. Performing the State management on anti-money laundering in line with the Law on Anti-Money Laundering.
10. Inspecting, supervising banks; supervising and inspecting foreign exchange, gold trading, and anti-money laundering operations; controlling the credit growth;having the authority to request a subject of a bank inspection or a banking supervision operation to contract an independent audit agency to perform an independent audit in accordance with the provisions of law; handling with infringements and violations in the fields of monetary and banking operations, foreign exchange and anti-money laundering in accordance with the applicable laws.
11. Performing the State management on deposit insurance in accordance with the Law on Deposit Insurance.
12. Assuming the leading role in making, monitoring, forecasting and analyzing the implementation results of the international payment balances; reporting on the implementation of Vietnam's international payment balances in accordance with the laws; acting as the leading agency in providing data on Vietnam’s international payment balances to the relevant domestic and foreign organizations in accordance with the laws.
13. Organizing, managing, operating and supervising to ensure the safety and efficiency of the national payment system; providing payment services to the banks; supervising the provision of intermediary payment services; participating in organizing and supervising the operations of the payment systems in the economy; managing the means of payment in the economy.
14. Performing the State management on foreign currencies, foreign exchange, and gold trading operations.
a) Managing the foreign exchange activities in current transactions, capital transactions, and the use of foreign currencies within the territory of Vietnam; the trading and provision of foreign exchange services and other transactions related to the foreign exchange; foreign exchange activities at the border areas in accordance with the provisions of law;
b) Managing the State's foreign exchange reserves in accordance with the provisions of law; buying and selling foreign currencies in the domestic market in support of the national monetary policy objectives; buying and selling foreign currencies using the resources from the state budget, the international organizations, or other sources; buying and selling foreign currencies in the international markets; and other foreign exchange transactions in accordance with the provisions of law;
c) Announcing the official exchange rates; deciding on the exchange rate regime and the exchange rate management mechanism;
d) Issuing and revoking approval documents for the trading and provision of foreign exchange services to the credit institutions, the foreign bank branches, and other organizations in accordance with the provisions of law;
dd) Managing the foreign exchange for foreign investment activities in Vietnam, and for Vietnamese investment activities overseas in accordance with the provisions of law;
e) Managing gold trading activities in accordance with the provisions of law;
g) Managing foreign borrowing and debt repayment activities of residents who are permitted to self-borrow and self-repay foreign debts in accordance with the law.
Providing guidance on the procedures and organizing the implementation of registration or the registration of changes to foreign loans guaranteed by the Government in accordance with the law;
h) Managing the foreign lending and debt recovery activities, and providing guarantees for non-residents of the credit institutions or the economic organizations in accordance with the law."
17. Implementing the international cooperation in the fields of monetary, banking and foreign exchange operations in accordance with the laws; participating in and implementing Vietnam's obligations as a member of the international organizations on anti-money laundering.
18. Maintaining the stability of the monetary and financial systems
a) Collecting, analyzing and forecasting the monetary and financial situations; Proposing measures to prevent systemic risks in the monetary and financial sectors;
b) Developing policies and measures to respond to crises, ensuring the stability of the monetary, banking and financial systems.
19. Performing the professional operations of a central bank.
a) Implementing the processes of money designing, printing, minting, preserving and transporting banknotes and coins; issuing, recovering, exchanging, replacing and destroying banknotes and coins;
b) Refinancing the credit insitutions for providing short-term capital and means of payment; refinancing the credit institutions to support specific target groups according to the directions of the Government and the Prime Minister;
c) Organizing, operating and developing the money market; Implementing the management and operation of the domestic currency market and the interbank foreign currency market.
20. Providing special loans to the credit institutions in accordance with the laws.
21. Organizing the credit information system and providing credit information services; performing the State management over the credit information activities; analyzing the credit ratings of legal entities and individuals in the territory of Vietnam.
22. Acting as an agent and performing the banking services for the State Treasury.
23. Collaborating with the Ministry of Finance on the issuance of the Government bonds, the Government-guaranteed bonds.
24. Decidingon an approval of the investment concept, deciding on an investment in a program or project under the SBV’s jurisdiction; organizing the monitoring, evaluation, supervision and inspection of the implementation of the relevant plans, programs and projects under the SBV’s jurisdiction in accordance with the applicable laws.
25. Organizing and providing guidance for the scientific research and application of scientific, technological and environmental protection innovations in the banking sector in line with the applicable laws.
26. Organizing the training, re-training on the monetary and banking operations in accordance with the applicable laws.
27. Deciding on the specific policies and measures, and directing the implementation of the operational mechanisms of public service entities in the field of monetary, banking operations and foreign exchange activities; managing non-productive units under the SBV’s jurisdiction in line with the applicable laws.
28. Acting as the representative of the State’s capital ownership at the credit institutions, the financial institutions and the enterprises with the State’s capital in accordance with the applicable laws.
Using the legal capital to contribute to the establishment of special enterprises in order to perform the SBV’s functions and tasks in line with the Prime Minister’s decisions.
29. Performing the tasks and mandates over the associations and non-governmental organizations under the SBV’s jurisdiction and in accordance with the applicable laws.
30. Inspecting, supervising and handling with complaints and denunciations; combating corruption; receiving and working with citizens; practicing thrift and preventing waste in line with the applicable laws.
31. Deciding on and directing the implementation of the SBV’s plans of administrative reforms in accordance with the objectives and contents as stated in the Government’s Programs of administrative reforms and the Prime Minister’s instructions; deciding on and directing the renovation of working methods, the modernization of public offices, the civil service culture and the application of information technologies, the digital transformation to support the operations of the SBV.
32. Managing and organizing the implementation of communication activitiesof the banking sector related to the missions and functions of the SBV.
33. Managing the organizational structures, the quotas for the numbers of officials, civil servants, employees, the job positions, the ranking structures of officials and civil servants, the structures of civil servants by professional titles, and the numbers of staff working in the non-productive units; deciding on the appointments, re-appointments, resignations, dismissals, retirements, commendations and disciplines; the incentives and policies on remuneration, the training and re-training of officials, civil servants, public employees and staff under the SBV’s jurisdiction as prescribed by laws.
34. Submitting to the Prime Minister on the recruitment mechanisms and the remuneration for the officials, civil servants and public employees in line with the professional nature of the operations of the SBV.
35. Managing the finance and assets as assigned to the SBV in accordance with the applicable laws.
36. Performing other tasks and mandates as assigned by the Government or the Prime Minister and in accordance with the applicable laws.
Organizational structureof the SBV
The new Decree stipulates that the organizational structure of the State Bank of Vietnam is composed of:
1. The Monetary Policy Department
2. The Payment Department
3.The Department of Credit for Economic Sectors
4. The Forecasting and Statistics - Monetary and Financial Stabilization Department
5. The International Cooperation Department
6. The Department of Legal Affairs
7.The Finance and Accounting Department
8. TheOrganization and Personnel Department
9.The SBV Office
10.The SBV Inspectorate
11.The Central Banking Department
12.The Information Technology Department
13.The Issue and Vault Department
14.The Foreign Exchange Management Department
15.The Anti-Money Laundering Department
16.The Credit Institutions Supervision Department
17.The Department of Banking System Safety
18.The SBV Regional branches
19.The National Credit Information Center of Vietnam
20.The Banking Times