The Banking Magazine of the State Bank of Vietnam (SBV) joined the Bank Training and Consulting Institute of Manpower, Banking & Finance (BTCI) and BlackIce Enterprise Risk Management Inc. (BlackIce) in organizing a seminar on Basel Accord ‘Best Practices’ project management in Hanoi on April 22.
Attending the seminar was SBV Deputy Governor Nguyen Kim Anh; Mr. Dao Minh Phuc, Editor – in – Chief of the Banking Magazine; Mr. Le Trung Kien, Deputy Director of the Department of Banking Operation Safety Policy at the Banking Supervision Agency; senior leaders and officers from SBV departments and commercial banks; and specialists of BlackIce.
The seminar aimed at discussing and sharing experience in Basel Accord project management, and the best practices of Basel II application to commercial banks.
The presentations at the seminar focused on the following substances: implementation of Basel II capital standards and the role of the Basel II Project Management Office (PMO); and the best practices in Basel project management, challenges and risks when implementing Basel rules.
The objective of the application of Basel II rules is to develop the system of credit institutions in Vietnam in accordance with the international standards and practices. The SBV has defined the roadmap for compliance with Basel II standard on capital adequacy. Accordingly, the pilot phase with 10 commercial banks will start from end 2015 and extend the application to other commercial banks from 2018. By end 2018, the selected commercial banks will comply with Basel II advanced capital adequacy. Other commercial banks will comply with the standard requirements.
At the seminar, the participants highly appreciated the seminar as well as the efforts of the Vietnamese banking sector over the past time to implement the scheme of restructuring the banking system in Vietnam in general and the implementation of Basel II rules in particular.
LH