On July 5, 2019, the State Bank of Vietnam (SBV) organized a conference to announce the organizational model of the Banking Supervision Agency in accordance with Decision No.20/2019/ QD- TTg dated June 12, 2019 of the Prime Minister.
Governor Le Minh Hung speaks at the conference
Attending the conference were Mr. Duong Quoc Anh, Vice Chairman of the National Assembly Committee for Economic Affairs, former Chief Inspector of the Banking Supervision Agency; representatives from several units of the State Audit of Vietnam, the Office of the Government, the Ministry of Home Affairs, the Ministry of Justice, the Government Inspectorate,... On the SBV’s side, there were Governor Le Minh Hung, Deputy Governor Dao Minh Tu, Deputy Governor Nguyen Kim Anh and all officials of the Banking Supervision Agency.
According to Decision No.20/2019/QD-TTg dated June 12, 2019 of the Prime Minister (hereinafter referred as Decision 20) stipulating the functions, tasks, powers and organizational structure of the Banking Supervision Agency under the SBV, on the organizational structure of the Banking Supervision Agency, there are 8 units of: (1) the Department of administrative inspection, appeals, accusations, corruption prevention and fighting (referred as Department I); (2) the Department for Banking Operation Safety Policies (referred as Department II); (3) the Agency’s Office; (4) the Department for Banking Inspection and Supervision I (referred as Agency I); (5) the Department for Banking Inspection and Supervision II (referred as Agency II); (6) the Department for Banking Inspection and Supervision III (referred as Agency III); (7) the Department of Safety Supervision of credit institution system (referred as Agency IV); (8) the Department of Anti-money laundering (referred as Agency V).
At the conference, Mr. Nguyen Van Thanh, Director General of the Human Resources Department announced the decisions on appointing the leaders of the relevant departments and agencies of the Banking Supervision Agency. These appointments are aimed at re-arranging the leadership and management personnel of the Banking Supervision Agency under the new structure and new organization to ensure its smooth operations. These Decisions take effective from July 5, 2019.
Overview of the conference
Mr. Nguyen Van Du, Acting Chief Inspector of the Banking Supervision Agency, affirmed that the new organizational model of the Banking Supervision Agency under Decision 20 would create an important premise to continue the renovation of the inspection and supervision activities toward getting closer to the international practices and standards and in line with the development of the banking industry in the new period. In addition, the Banking Supervision Agency is also determined to strongly focus on implementing the key tasks in order to continue to develop the banking inspection and supervision to become a centralized, unified, effective and efficient system, in which the Banking Supervision Agency is the critical and central element connecting the whole system in accordance to the directions of the SBV Management Board.
Speaking at the conference, SBV Governor Le Minh Hung requested the Banking Supervision Agency to review the legal documents for amendments and supplements, as well as the issuance of a new Circular in accordance with the new model to ensure the smooth management process. He also requested the Banking Supervision Agency to strictly follow the rules and regulations in the conduct of inspection and supervision, and to pay high attention to the quality of inspection work,... The SBV Governor emphasized that the whole Banking Supervision Agency needs to continue to accelerate the process of restructuring the credit institution system and resolving the NPLs in accordance with Decision 1058 and Resolution 42.
The SBV Governor believed that with the experience and achievements during the development process, as well as the consensus and the solidarity, the Banking Supervision Agency would continue to promote the achieved results, develop the inspection and supervision team to be more and more professional and effective, and successfully accomplish the assigned tasks.
Le Hang