AsemconnectVietnam - The State Bank of Vietnam is a ministerial-level agency of the Government, which functions to perform the State management over monetary and banking activities and acts as the Central Bank of the Socialist Republic of Vietnam.
Tasks and powers of the State Bank of Vietnam:
1.To submit to the Government and/or the Prime Minister bills, draft ordinances and other legal documents on monetary and banking activities.
2. To submit to the Government and/or the Prime Minister the development strategies, long-term, five-year and annual plans on monetary and banking activities.
3. To promulgate decisions, directives and circulars falling within the scope of its State management.
4. To direct, guide, inspect and take responsibility for the implementation of legal documents approved, strategies, plans as well as other legal documents within the scope of its management; to propagate, disseminate and educate in the legislation and information on banking activities.
5. On monetary and banking activities;
a/ To formulate the national monetary policies for the Government to consider and submit them to the National Assembly for decision and organization of the implementation thereof; to submit to the Government schemes on the development of the system of banks and credit institutions;
b/ To grant and withdraw permits for the establishment and operation of credit institutions, except for cases to be decided by the Prime Minister; to grant and withdraw permits for banking activities of other organizations; to decide on the dissolution, and approve the splitting, separation, consolidation or merger of credit institutions according to law;
c/ To examine and inspect banking activities, to control credit; to inspect, supervise and handle complaints and denunciations, to combat corruption and negative acts, to handle law violations in the field of monetary; and banking activities according to its competence.
d/ To manage the borrowing and repayment of foreign debts by enterprises according to the Government’s regulations;
e/ To assume the prime responsibility for the setting up and monitor the execution of international payment balance.
f/ To manage foreign exchange, foreign exchange related activities as well as gold import and export.
g. To sign and accede to international treaties on monetary and baking activities according and export.
h. To represent the Socialist Republic of Vietnam in international monetary and baking organizations under the authorization of the State President or the Government.
i. To organize training and fostering courses on baking operations; to conduct scientific and technological research and application in the banking field.
6. To perform the functions of the Central Bank
a/ To organize the printing, minting, preservation and transportation of money; to carry out the operations of money distribution, withdrawal, replacement and destruction;
b/ To effect the capital re-allocation in order to provide short-term credit and payment instruments for the economy.
c/. To regulate the monetary market; and to carry out the open-market operation;
d/ To control international reserves and manage the State's foreign exchange reserves;
e/ To organize the system of via-bank payment, provide payment services and manage the provision of payment instruments;
f/ To act as an agent of, and provide banking services for, the State Treasuries;
g/ To organize the banking information system and provide banking information services.
7. To appraise, and inspect the implementation of, investment projects in the banking field according to law.
8. To effect international cooperation in the banking field according to law.
9. To decide on specific undertakings and measures and direct the implementation of mechanisms for operation of public-service organizations in the banking field as prescribed by law, to manage and direct the operation of non business units under the State Bank.
10. To perform specific tasks and powers of the representative of the owner of State capital portions at State-invested enterprises operating in the banking field according to law.
11. To perform the State management over operation of associations and non-governmental organizations in the banking field according to law.
12. To decide on, and direct the implementation of, its administrative reform program according to the objectives and contents of the State's administrative reform program already approved by the Prime Minister;
13. To manage its organizational apparatus and payroll; to direct the realization of wage policies as well as policies on preferential treatment, commendation, rewards and disciplines towards State officials and employees under its management.
14. To manage its allocated funding and assets according to law.
15. To participate in the formulation of the country's socio-economic development strategies and plans.
Leaders of State Bank of Vietnam
Governor: Nguyen Thi Hong
Deputy Governor: Dao Minh Tu
Deputy Governor: Nguyen Kim Anh
Deputy Governor: Doan Thai Son
Add: No.47-49 Ly Thai To street, Hoan Kiem district, Ha noi
Tel:04 38254845 - 04 38268779