On December 17, 2019 at the State Bank of Vietnam (SBV), Deputy Governor Nguyen Thi Hong had a meeting with Mr. Jafar Amin, Head of Global Financial Institutions Business for APAC and Regional President for Asia Pacific Region at Wells Fargo & Company.
Deputy Governor Nguyen Thi Hong and Mr. Jafar Amin
Also attending the meeting, there were representatives from the Banking Supervision Agency, the International Cooperation Department, the SBV Office, the Central Banking Department, the Department of Anti-money Laundering and representatives of Wells Fargo & Co. in Vietnam.
At the meeting, Deputy Governor Nguyen Thi Hong welcomed Mr. Jafar Amin and the delegation of Wells Fargo & Co. to visit and work with the SBV. She shared that Vietnam’s banking system has been playing the role of the principal capital channel for the economy. Since 2011, the system of credit institutions in Vietnam has been going through a comprehensive and drastic restructuring process in order to enhance the financial soundness and improve the governance performance in line with the international practices. She also shared information about the SBV’s management policy focusing on the systemic stability, enhancing the governance performance and safety indicators. The SBV has always closely monitored the world economic situations with a view to managing the monetary policy instruments in a consistent, active and flexible manner to control the inflation, stabilize the money market, ensuring the liquidity of the credit institutions, the forex market and the common interest rates, thereby contributing to stabilizing the macro-economy, supporting the economic growth at a reasonable level and the process of restructuring the credit institutions and resolving NPLs.
For his part, Mr. Jafar Amin spoke highly of Vietnam’s achievements in general and the SBV’s results in the monetary policy management in particular. He expressed his hope to hear more about Vietnam’s banking industry and the SBV’s management policies, as well as the recapitalization plans of the state-owned commercial banks. At the same time, he briefed the SBV Deputy Governor of the cooperative activities between the SBV and Wells Fargo over the past time, and the orientations for the cooperation in the coming time.
An overview of the meeting
About the bilateral cooperation between Vietnam and the U.S.A. in the banking sector, the two sides have signed important agreements to strengthen the cooperation, establish the agency and payment relations between the banks of both sides. The SBV Deputy Governor hoped that, in the coming time, Wells Fargo would continue to be a reliable partner of the SBV and Vietnam’s commercial banks.
Le Hang