On May 18, 2018, the State Bank of Vietnam (SBV) held a periodic meeting on the communication activities of the banking sector in the second Quarter of 2018. The meeting was chaired by SBV Deputy Governor Nguyen Thi Hong. This is a periodic activity of the banking sector aimed at implementing communication activities on monetary policy and banking operations in accordance with the law.
Also attending the meeting were representatives from the SBV’s Departments, leaders and representatives of the units responsible for communication at the credit institutions, the Deposit Insurance of Vietnam, the editors-in-chief of the newspapers and magazines in the banking industry.
Overview of the meeting
Presenting the results of the communication activities of the banking sector in the first Quarter of 2018, Mrs. Le Thi Thuy Sen - Deputy Director General of the Communication Department - emphasized that: In the context that the banking sector has been facing many difficulties and challenges, the communication activities on the policies of the banking sector have continued to see remarkable changes towards the objectives of policy transparency, the status and orientations of the monetary policy management in accordance with the provisions of the law and the banking products, helping increase the public confidence in the banking system.
In particular, the communication activity on financial education for the community continues to receive much attention by the banking system, helping the people to equip themselves with the knowledge of financial services, minimizing risks for the users of the financial services, promoting non-cash payments, payments for public services via banks and enhancing the accessibility to the financial services under the Schemes approved by the Government.
Financial education programs for the community, such as "Smart Money” (broadcast on VTV3 channel - Vietnam Television) and "Smart Kids" (broadcast on VTV1 channel - Vietnam Television) have received strong support from the public, the international organizations and agencies.
Mrs. Le Thi Thuy Sen - Deputy Director General of the Communication Department speaks at the meeting
Based on the review and assessment of the sector's communication activities in the first Quarter, the Deputy Director General of the Communications Department also shared the specific orientations for the communication activities of the banking sector in the coming time, with particular attention given to addressing the issues of public concern.
Also at the meeting, Mr. Pham Chi Quang, Deputy Director General of the Monetary Policy Department shared some specific information on the results of the monetary policy management in the first months of 2018, and the directions of the monetary policy and banking operations in the coming time. Significant information on the results, difficulties and challenges in the process of restructuring and dealing with bad debts was also shared by Mr. Nguyen Quang Hai, Deputy Chief of the Office of the SBV’s Banking Supervision Agency.
In addition, Mr. Pham Tien Dung, Director General of the Payment Department, also reminded the relevant agencies in the industry about some important elements regarding the payment activities and the non-cash payment scheme. The aspects of security and confidentiality for online payments were also raised by Mr. Doan Thanh Hai, Deputy Director General of the Information Technology Department. These are important substances that the agencies in the whole sector need to keep in mind and pay attention to for the communication activities in the coming time.
After the presentations of the SBV’s departments, Mr. Nguyen Van Du, Chief of the SBV Office, emphasized that the agencies in the whole sector should collaborate and provide information to the media on a timely manner regarding issues of concern of the National Assembly and the people.
Mr. Nguyen Van Du - Chief of the SBV Office
In the concluding remarks, SBV Deputy Governor Nguyen Thi Hong confirmed that the communication activities of the banking sector in the first Quarter were essentially in the right direction, guidelines and policies of the Party, the National Assembly, the Government, and especially following closely the instructions, plans and key tasks of the sector set at the beginning of the year. The communication activities have spread across all segments, focusing on monetary policy, payment, restructuring and dealing with bad debts, information technology... In the coming time, all relevant units/agencies in the whole sector should build up their grasp of and strengthen their communication activities on the orientations and policies of the Party, the National Assembly, the Government and the SBV in order to increase the confidence among the public and the people in the operations of the banking system.
SBV Deputy Governor Nguyen Thi Hong concludes the meeting
At the same time, the SBV Deputy Governor also emphasized the importance of the financial education for the community and acknowledged the efforts of the Communication Department and the other SBV’s departments, as well as the credit institutions in implementing effectively the communication programs on the policies by means of television, which have received positive assessment and strong support by the public. The SBV Deputy Governor also requested that all relevant stakeholders work closely with the Communication Department in the continuation of the financial education programs for the community.
VA