On October 13, 2017, in Hanoi, Deputy Governor Nguyen Kim Anh of the State Bank of Vietnam (SBV) had a meeting with Mr. Dominic Mellor, Asian Development Bank (ADB) senior economist and Head of Mekong Business Initiative (MBI); Mr. Roger Thomas Moyes, MBI Director, and other ADB specialists.
The meeting
Attending the meeting were representatives from International Cooperation Department, Payment, Steering Board for Fintech and etc.
On behalf of SBV Management Board, Deputy Governor Nguyen Kim Anh warmly welcomed working visit of ADB specialists to Vietnam. He highly appreciated the contribution of the ADB to the enhancement of Fintech in Vietnam, especially its MBI project.
Previously, the SBV International Cooperation Department with the attendance of representative from SBV Payment Department had a meeting with the ADB about the implementation of cooperative activities in Fintech event. After the meeting, ADB suggested that in order to improve the role of the SBV in Fintech development, the SBV should consider to host important events including launching the contest of Fintech Challenge, National Conference on Fintech and etc.
The SBV hoped for further support from MBI with its prestige and experience in implementing Fintech in several central banks, especially advising SBV Steering Board for Fintech in the implementation of Fintech and legal framework for Fintech in Vietnam.
On the basis of suggestions from MBI and ideas from International Cooperation Department and Banking Strategy Institute, the SBV Steering Board for Fintech will request the ADB to early complete procedures for conducting technical assistance for Fintech (such as extending operational duration for MBI project, implementing independent technical assistance for Fintech). MBI is an important project to support development of Fintech in four countries, namely Laos, Cambodia, Myanmar and Vietnam, so the SBV requested the ADB to allocate the resources of technical assistance appropriately so that Vietnam could proactively plan and implement activities to develop Fintech.
To end the meeting, Deputy Governor Nguyen Kim Anh requested the ADB to support Vietnam for accelerating the cooperation with representatives from regional central banks such as central banks of Malaysia, Indonesia and Thailand for exchanging experience in managing Fintech in their countries.
About Financial Inclusion, the SBV requested the ADB to provide financial support for making surveys at SMEs; support for formulating indexes and enhancing competitiveness of the SBV to collect and analyze data for assessing approaches and utilization of financial products and services of SMEs; support for formulating frame or methodology of management and assessment of implementing the Strategy.
Le Hang