On July 12, 2019 at the headquarters of the State Bank of Vietnam (NHNN), Deputy Governor Nguyen Kim Anh had a meeting with Ms. Ruth Goodwin-Groen – Managing Director of the Better Than Cash Alliance (BTCA). Also attending the meeting were leaders of the SBV International Cooperation Department, the Payment Department and the Banking Strategy Institute.
At the meeting, Deputy Governor Nguyen Kim Anh welcomed Ms. Ruth Goodwin-Groen – BTCA Managing Director to visit and work in Vietnam. The SBV Deputy Governor expressed his gratitude to BTCA in general and the Managing Director in particular for having assisted Vietnam in developing the Assessment Report on Digital Payments in Vietnam, as well as other support and advice since the SBV joined BTCA in June 2016. The Report is expected to be publicized widely at the same time as the SBV announces the National Financial Inclusion Strategy (NFIS) (expected in mid-September 2019). The Prime Minister has assigned the SBV to take lead in and coordinate the overall financial inclusion work in Vietnam.
SBV Deputy Governor Nguyen Kim Anh speaks at the meeting.
According to Deputy Governor Nguyen Kim Anh, basically, the draft Report has been carefully organized both in the layout and the contents, from synthesizing and analyzing data obtained from stakeholders (such as the SBV, the Ministry of Agriculture and Rural Development, the Ministry of Labor, Invalids and Social Affairs, the credit institutions, the intermediary payment organizations,...) to making recommendations in different stages for the payment market in Vietnam. In addition, the draft Report also collected many data, specific evidences from many different sources and made assessments, analyses on the status of the payment instrument digitization, and opportunities to switch to electronic payments in Vietnam in the coming time. The Report particularly helps the Government to see opportunities to promote and develop non-cash payments.
Deputy Governor Nguyen Kim Anh said that the SBV wishes to continue to receive advice and support from BTCA in the coming time, and expressed his confidence that the cooperative relationship between the SBV and BTCA would be constantly consolidated and strengthened.
Ms. Ruth Goodwin – Groen – the BCTA Managing Director speaks at the meeting
For her part, the Managing Director of BTCA shared some international practices in some ASEAN countries, Africa, especially Tanzania on the financial inclusion development process, as well as the experience of monitoring non-bank payment institutions.
In the coming time, Ms. Ruth Goodwin-Groen believed the two sides would continue to exchange, support and cooperate with each other in developing legal documents on the management and supervision of payment intermediary service providers, organizing inspection and supervision... to further develop non-cash payments and promote financial inclusion in Vietnam.
VA