Hanoi, September 30, 2025 - The Governor of the State Bank of Vietnam has signed and issued Circular No. 32/2025/TT-NHNN guiding the order and procedures for the formulation and promulgation of legal normative documents of the State Bank of Vietnam.
The Circular consists of 05 Chapters and 29 Articles, providing detailed guidance on the order and procedures for developing and promulgating legal normative documents in the fields of monetary policy, banking operations, and foreign exchange management, which are issued by or submitted by the State Bank of Vietnam to competent authorities for promulgation.
Compared to Circular No. 27/2016/TT-NHNN, this Circular introduces several new points, such as:
- Reforming the process of drafting and issuing legal normative documents; simplifying administrative procedures and shortening the consultation period, diversifying forms of consultation and strengthening communication activities; enhancing publicity and transparency in the process of feedback and explanation;
- Adding provisions to strengthen the leadership of the Communist Party and to raise the accountability of heads of units in the formulation and implementation of legal documents;
- Supplementing regulations on the application of simplified procedures and special cases;
- Adding new provisions on the appraisal of draft Circulars prepared by the Department of Legal Affairs;
- Removing the regulation on appraisal of funding for the drafting of legal normative documents.
This Circular will take effect on November 15, 2025.
HM