On the afternoon of August 24, 2026, during the first extraordinary session of the 16th National Assembly (NA), chaired by National Assembly Chairman Tran Thanh Man and under the direction of National Assembly Vice Chairwoman Nguyen Thi Hong, the National Assembly voted to pass the Law amending and supplementing a number of provisions of the Law on the State Bank of Vietnam, the Law on Anti-Money Laundering, and the Law on Credit Institutions.
An overview of the NA session
According to the electronic voting results, 473 out of 476 participating NA deputies voted in favor, accounting for 94.60%. Accordingly, the National Assembly officially passed the Law amending and supplementing a number of provisions of the Law on the State Bank of Vietnam, the Law on Anti-Money Laundering, and the Law on Credit Institutions.
Prior to the voting, the National Assembly heard SBV Governor Pham Duc An, under the authorization of the Prime Minister, present the Report on the explanation, incorporation of comments, and revision of the draft Law.
SBV Governor Pham Duc An presents the Report on the explanation, incorporation of comments, and revision of the draft Law.
Clarifying the SBV’s responsibilities for inspection and supervision
Regarding amendments to the Law on the State Bank of Vietnam, Clause 3, Article 59, as amended and supplemented by Clause 10, Article 1 of the new Law, stipulates: “The State Bank of Vietnam is responsible for inspecting and supervising the subjects of inspection and supervision specified in this Clause in accordance with the law.”
The new provision aims to clearly define the SBV’s responsibility for inspecting and supervision credit institutions that are subject to specific prudential ratios under Clause 3, Article 59 of the Law on the State Bank of Vietnam, in accordance with the Law on the State Bank of Vietnam and relevant laws.
Clarifying responsibilities in anti-money laundering efforts
Regarding the amendments and supplements to the Law on Anti-Money Laundering, Governor Pham Duc An stated that, in order to clarify the responsibilities of ministries and agencies, ensure consistency with regulations governing the Ministry of Finance and the Government Inspectorate, and align with the principles of inspection, examination, and supervision based on the national money laundering risk assessment, the new Law provides amendments in Clause 18, Article 2 (amending and supplementing Clause 2, Article 59 of the Law on Anti-Money Laundering).
In addition, the Government also reviewed and made technical amendments to the provisions on suspicious indicators in the crypto-asset sector under Article 33a of the Law on Anti-Money Laundering. These amendments aim to ensure greater clarity and precision, and facilitate consistent implementation in practice.
Improving regulations on collateral management agents
Regarding amendments and supplements to the Law on Credit Institutions, and in response to comments from the National Assembly Standing Committee, the Government will direct relevant agencies to study and further develop regulations on the rights, responsibilities, conditions, criteria, and scope of operations of collateral management agents. These provisions will be incorporated into relevant legal documents on securities and enterprises concerning corporate bond issuance.
The regulations are intended to ensure that, when commercial banks perform these activities, customers are not misled or confused, conflicts of interest are prevented, and risks are effectively managed.
The Law amending and supplementing a number of provisions of the Law on the State Bank of Vietnam, the Law on Anti-Money Laundering, and the Law on Credit Institutions comprises four (04) Articles and shall take effect on December 1, 2026.
Minh Khang