On June 12, 2019 at the headquarters of the State Bank of Vietnam (SBV), Governor Le Minh Hung had a meeting with Mr. Siddharth Tiwari, Chief Representative for Asia and the Pacific, and Mr. Thomas Liu, Head of Treasury Division of the Representative Office for Asia and the Pacific of the Bank for International Settlements (BIS).
At the meeting, Governor Nguyen Le Minh Hung welcomed the BIS Mission to visit and work with the SBV. The SBV Governor spoke highly of the role and contributions of the BIS in maintaining the financial stability and promoting international cooperation in the monetary and banking sector, especially the cooperation with other central banks.
Governor Le Minh Hung affirmed that the relationship between the SBV and the BIS has been established and functioning for long and growing over the time, and can be reflected in the increasing scale and value of investment transactions and accounts over time. The SBV has also been actively involved in the BIS activities, such as becoming a member of the Irving Fisher Committee (IFC), joining the Regional Group for Asia-Pacific of the Financial Stability Board (FSB), participating in the annual conferences and other relevant BIS events.
SBV Governor Le Minh Hung meets BIS delegation
In the recent years, Vietnam has been actively integrating into the regional and international banking and finance systems. According to the SBV Governor, becoming a member of the BIS has a significant meaning in Vietnam's engagement and integration process to connect and contribute to a common effort to maintain the financial and monetary stability in the region and the world. The SBV has been actively participating in the initiatives and the activities of the BIS and its affiliated organizations, as well as expressed the wish to become a BIS member.
For his part, Mr. Siddharth Tiwari thanked Governor Le Minh Hung for taking the time to meet the Mission. He expressed his impression with Vietnam’s achievements in the macro-economic management, economic growth and intensive regional and international integration. About the banking industry, Mr. Siddharth Tiwari expressed his pleasure at the results of the monetary policy management as well as the development of new and modern banking services. He expressed the wish to strengthen the cooperation with Vietnamese banks, and also hoped that Vietnam would be soon an official member of the BIS.
Moreover, the two sides exchanged their views on the enhancement of the cooperative relations in all fields such as expansion of the account transactions, investments including trusted investments, exchange of information, collaborative research on market aspects, training, networking and exchange of experience with the BIS member countries in the areas of statistics, monetary stability, inspection, monitoring and policy management…
Le Hang