Pursuant to the Law on the Government Organization dated June 19, 2015; the Law amending and supplementing a number of Articles of the Law on the Government Organization, and the Law on the Organization of the Local Governments dated November 22, 2019; the Law on the State Bank of Vietnam dated June 16, 2010; and other relevant regulations, the Government has issued Decree No. 102/2022/ND-CP dated December 12, 2022 stipulating the functions, tasks, mandates and organizational structure of the State Bank of Vietnam (SBV).
Mission and Functions
The State Bank of Vietnam (abbreviated as the SBV) is a ministerial-level agency of the Government, acting as the Central Bank of the Socialist Republic of Vietnam; performs the State management functions of the monetary, the banking and the foreign exchange operations (hereinafter referred collectively as the monetary and banking operations); performs the role of a central bank as the money issuer, and as the bank for the credit institutions, and the provider of monetary services to the Government; and performs the State management of the public services under the SBV’s jurisdiction.
Tasks and Mandates
The SBV performs the tasks and assumes the mandates as stipulated in the Law on the State Bank of Vietnam, Decree No.123/2016/ND-CP dated September 1, 2016 of the Government stipulating the functions, tasks, mandates and organizational structures of the Ministries and ministerial-level agencies, Decree No. 101/2020/ND-CP dated August 28, 2020 of the Government amending and supplementing a number of Articles of Decree No.123/2016/ND-CP, and other specific tasks and mandates as follows:
1. Submitting to the Government law proposals, draft resolutions of the National Assembly, ordinance proposals, draft resolutions of the Standing Committee of the National Assembly; draft decrees of the Government based on the SBV’s approved annual programs and plans for the formulation of legal documents; and the resolutions, projects and schemes as assigned by the Government and the Prime Minister; the annual and long-term strategies and plans; the national target programs, action programs and the nationally critical projects and civil works under the SBV’s jurisdiction.
2. Submitting to the Prime Minister draft decisions, directives and other legal documents under the SBV’s jurisdiction or as assigned.
3. Promulgating circulars and other legal documents under the SBV’s jurisdiction; directing, providing guidance, supervising, inspecting and taking responsibility for arranging the implementation of the legal documents, programs, projects and development plans which have been issued or approved under the SBV’s jurisdiction.
4. Developing the annual inflation targets to be submitted to the Government; using tools to implement the national monetary policy, including the refinancing, the interest rates, the exchange rates, the regulatory reserves, the open market operations, the issuance of the SBV bills; and other tools and measures to implement the national monetary policy.
5. Implementing inventories, statistical surveys, collection and storage of information on the international and domestic economic, financial, monetary and banking situations under the SBV’s jurisdiction; conducting analyses and making projections on the monetary and banking operations; disseminating information on the monetary and banking operations in line with the applicable legal requirements.
6. Issuing, amending, supplementing and revoking licenses for the establishment and operations of the credit institutions, licenses for the establishment of the foreign bank branches, representative offices of foreign credit institutions, other foreign institutions with banking operations in Vietnam; issuing, amending, supplementing and revoking licenses for the provision of intermediary payment services by non-bank institutions; issuing, re-issuing, revising the substances in and revoking the institutions’ licenses for the provision of credit information services; issuing and revoking the registration certificates of micro-finance programs/projects; approving of the acquisition, merger, sale, division, and liquidation of credit institutions in accordance with the applicable laws.
7. Deciding on the special control measures over a credit institution which has made serious infringements against the monetary and banking regulations, or is facing serious financial difficulties, causing risks of compromising the safety of the entire banking sector, through the forms of: purchasing shares of the credit institution; terminating, temporarily suspending or relieving from duty of the manager or the leader of the credit institution; deciding on a merger, consolidation or liquidation of the credit institution; putting the credit institution under special control measures; performing other tasks and mandates in accordance with the applicable law on bankruptcy for credit institutions.
8. Approving of the tentative lists of persons to be voted or appointed as members of the Boards of Directors, the Boards of Members, the Supervisory Boards, General Managers (Directors)/CEOs of the credit institutions; approving of other changes in line with the Law on Credit Institutions.
9. Performing the State management on anti-money laundering in line with the Law on Anti-Money Laundering.
10. Inspecting, supervising banks; supervising and inspecting foreign exchange, gold trading, and anti-money laundering operations; controlling the credit growth; handling with infringements and violations in the fields of monetary and banking operations, foreign exchange and anti-money laundering in accordance with the applicable laws.
11. Performing the State management on deposit insurance in accordance with the Law on Deposit Insurance.
12. Assuming the leading role in making, monitoring, forecasting and analyzing the implementation results of the international payment balances; reporting on the implementation of Vietnam's international payment balances in accordance with the laws; acting as the leading agency in providing data on Vietnam’s international payment balances to the relevant domestic and foreign organizations in accordance with the laws.
13. Organizing, managing, operating and supervising to ensure the safety and efficiency of the national payment system; providing payment services to the banks; supervising the provision of intermediary payment services; participating in organizing and supervising the operations of the payment systems in the economy; managing the means of payment in the economy.
14. Performing the State management on foreign currencies, foreign exchange, and gold trading operations.
15. Representing the Socialist Republic of Vietnam, the Government of Vietnam at the International Monetary Fund (IMF), the World Bank Group (WBG), the Asian Development Bank (ADB), the International Investment Bank (IIB), the Bank for International Economic Cooperation (IBEC), the Asian Infrastructure Investment Bank (AIIB), and other international monetary and banking institutions.
Performing Vietnam's rights and obligations at the international monetary and banking institutions at which the SBV is the representative of Vietnam; recommending to the Government and the Prime Minister on policies and measures to develop and enhance the cooperative relations with those institutions.
16. Proposing and submitting to the Government the signing of specific international treaties on non-refundable official development assistance (ODA) resources, which are not attached to loans and provided by the international monetary and financial institutions or international banks at which the SBV is the representative as prescribed by laws.
17. Implementing the international cooperation in the fields of monetary, banking and foreign exchange operations in accordance with the laws; participating in and implementing Vietnam's obligations as a member of the international organizations on anti-money laundering.
18. Maintaining the stability of the monetary and financial systems
19. Performing the professional operations of a central bank.
20. Providing special loans to the credit institutions in accordance with the laws.
21. Organizing the credit information system and providing credit information services; performing the State management over the credit information activities; analyzing the credit ratings of legal entities and individuals in the territory of Vietnam.
22. Acting as an agent and performing the banking services for the State Treasury.
23. Collaborating with the Ministry of Finance on the issuance of the Government bonds, the Government-guaranteed bonds.
24. Deciding on an approval of the investment concept, deciding on an investment in a program or project under the SBV’s jurisdiction; organizing the monitoring, evaluation, supervision and inspection of the implementation of the relevant plans, programs and projects under the SBV’s jurisdiction in accordance with the applicable laws.
25. Organizing and providing guidance for the scientific research and application of scientific, technological and environmental protecting innovations in the banking sector in line with the applicable laws.
26. Organizing the training, re-training on the monetary and banking operations in accordance with the applicable laws.
27. Deciding on the specific policies and measures, and directing the implementation of the operational mechanisms of public service entities in the field of monetary, banking operations and foreign exchange activities; managing non-productive units under the SBV’s jurisdiction in line with the applicable laws.
28. Acting as the representative of the State’s capital ownership at the credit institutions, the financial institutions and the enterprises with the State’s capital in accordance with the applicable laws.
Using the legal capital to contribute to the establishment of special enterprises in order to perform the SBV’s functions and tasks in line with the Prime Minister’s decisions.
29. Performing the tasks and mandates over the associations and non-governmental organizations under the SBV’s jurisdiction and in accordance with the applicable laws.
30. Inspecting, supervising and handling with complaints and denunciations; combating corruption; receiving and working with citizens; practicing thrift and preventing waste in line with the applicable laws.
31. Deciding on and directing the implementation of the SBV’s plans of administrative reforms in accordance with the objectives and contents as stated in the Government’s Programs of administrative reforms and the Prime Minister’s instructions; deciding on and directing the renovation of working methods, the modernization of public offices, the civil service culture and the application of information technologies to support the operations of the SBV.
32. Managing and organizing the implementation of communication activities of the banking sector related to the State management functions of the SBV.
33. Managing the organizational structures, the quotas for the numbers of officials, civil servants, employees, the job positions, the ranking structures of officials and civil servants, the structures of civil servants by professional titles, and the numbers of staff working in the non-productive units; deciding on the appointments, re-appointments, resignations, dismissals, retirements, commendations and disciplines; the incentives and policies on remuneration, the training and re-training of officials, civil servants, public employees and staff under the SBV’s jurisdiction as prescribed by laws.
34. Submitting to the Prime Minister on the recruitment mechanisms and the remuneration for the officials, civil servants and public employees in line with the professional nature of the operations of the SBV.
35. Managing the finance and assets as assigned to the SBV in accordance with the applicable laws.
36. Performing other tasks and mandates as assigned by the Government or the Prime Minister and in accordance with the applicable laws.
Organizational structure of the SBV
1. The Monetary Policy Department
2. The Foreign Exchange Management Department
3. The Payment Department
4. The Department of Credit for Economic Sectors
5. The Forecasting and Statistics Department,
6. The International Cooperation Department
7. The Monetary and Financial Stabilization Department
8. The Internal Audit Department
9. The Department of Legal Affairs
10. The Finance and Accounting Department
11. The Organization and Personnel Department
12. The Communications Department
13. The SBV Office
14. The Information Technology Department
15. The Issue and Vault Department
16. The Reserve Management Department
17. The Administration Department
18. The Central Banking Department
19. The Banking Supervision Agency
20. The SBV Municipal and Provincial branches
21. The Banking Strategy Institute
22. The National Credit Information Center of Vietnam
23. The Banking Times
24. The Banking Review
25. The Banking Academy.
