On February 24, 2025, the Government issued Decree No. 26/2025/ND-CP regulating the missions, functions and organizational structure of the State Bank of Vietnam (SBV). This Decree takes effect on March 1, 2025.
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 and Authorities
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 law proposals, 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 over a 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 be voted 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.
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
19. Performing the professional operations of a central bank.
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. Deciding on 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.
Organizational structure of 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. The Organization 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
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