Decree 26/2025/ND-CP stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam
What are details of the Decree 26/2025/ND-CP stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam?
On February 24, 2025, the Government of Vietnam issued Decree 26/2025/ND-CP prescribing the functions, tasks, powers, and organizational structure of the State Bank of Vietnam.
Article 1 of Decree 26/2025/ND-CP stipulates that the State Bank of Vietnam is a government agency equivalent to a ministry of the Government of Vietnam and serves as the Central Bank of the Socialist Republic of Vietnam. It performs the function of state management in terms of currency, banking operations, foreign exchange, and public services within its jurisdiction; and carries out the Central Bank’s function of issuing money, acting as a bank for credit institutions, and providing monetary services for the Government of Vietnam.
Decree 26/2025/ND-CP shall take effect from March 1, 2025.
Decree 26/2025/ND-CP stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam (Image source: Internet)
What is the organizational structure of the State Bank of Vietnam?
Article 3 of Decree 26/2025/ND-CP regulates the organizational structure:
Article 3. Organizational Structure
- Monetary Policy Department.
- Payment Department.
- Credit Department for Economic Sectors.
- Forecasting, Statistics, and Monetary, Financial Stability Department.
- International Cooperation Department.
- Legal Department.
- Finance – Accounting Department.
- Personnel Department.
- Office.
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The organizational structure of the State Bank of Vietnam is as follows:
[1] Administrative organizations assisting the Governor of the State Bank in implementing state management and Central Bank functions:
- Monetary Policy Department.
- Payment Department.
- Credit Department for Economic Sectors.
- Forecasting, Statistics – Monetary, Financial Stability Department.
- International Cooperation Department.
- Legal Department.
- Finance – Accounting Department.
- Personnel Department.
- Office.
- State Bank Inspectorate.
- Transaction Center.
- Information Technology Department.
- Issue and Treasury Department.
- Foreign Exchange Department.
- Anti-Money Laundering Department.
- Credit Institution Supervision Department.
- System Safety Department for Credit Institutions.
- Regional Branches of the State Bank (Regional State Banks).
[2] Public service units serving the state management function of the State Bank:
- National Credit Information Center of Vietnam.
- Banking Times.
What are tasks and powers of the State Bank of Vietnam?
Article 4 of the Law on the State Bank of Vietnam 2010 defines the tasks and powers of the State Bank of Vietnam as follows:
- The operations of the State Bank aim to stabilize the value of the currency; ensure the safety of banking operations and the system of credit institutions; ensure the safety and efficiency of the national payment system; contribute to promoting socio-economic development under the socialist orientation.
- Participate in formulating the country's socio-economic development strategy and plan.
- Develop a banking sector development strategy, submit it to competent state agencies for approval, and organize its implementation.
- Issue or submit to competent state agencies legal documents on currency and banking; propagate, disseminate, and inspect legal documents under its jurisdiction on currency and banking.
- Formulate annual inflation targets for the Government of Vietnam to propose to the National Assembly for decision and organize implementation.
- Organize, operate, and develop the monetary market.
- Organize the system of statistics, forecasting regarding currency and banking; disclose information on currency and banking as prescribed by law.
- Manage printing, minting, safeguarding, and transporting paper money and coins; conduct operations of issuance, withdrawal, replacement, and destruction of paper money and coins.
- Issue, amend, supplement, and revoke licenses for the establishment and operation of credit institutions, licenses for the establishment of foreign bank branches, representative offices of foreign credit institutions, foreign organizations involved in banking operations; grant and revoke licenses for providing payment intermediary services for non-bank organizations; grant and revoke licenses for providing credit information services for organizations; approve the purchase, sale, separation, merger, consolidation, and dissolution of credit institutions according to the law.
- Represent the state's ownership of capital in enterprises performing functions and tasks of the State Bank, credit institutions with state capital as prescribed by law; use charter capital to contribute capital to establish specific enterprises to perform the functions and tasks of the State Bank as decided by the Prime Minister of the Government of Vietnam.
- Inspect, audit, supervise banking operations; handle legal violations regarding currency and banking as prescribed by law.
- Decide on applying special handling measures towards credit institutions that seriously violate legal regulations on currency and banking, face financial difficulties, possess risks of destabilizing the banking system, including acquiring shares of credit institutions; suspend, temporarily suspend, or exempt the positions of managers, executives of credit institutions; decide on the merger, consolidation, or dissolution of credit institutions; place credit institutions under special control; fulfill duties and powers as prescribed by bankruptcy law applicable to credit institutions.
- Lead, cooperate with relevant agencies to develop policies, plans, and implement anti-money laundering measures.
- Exercise state management of deposit insurance according to insurance deposit laws.
- Lead the preparation, monitoring, forecasting, and analysis of results of international payment balances.
- Organize, manage, supervise the national payment system, and provide payment services to banks; participate in and supervise the operation of payment systems in the economy.
- Exercise state management over foreign exchange, foreign exchange activities, and gold trading activities.
- Manage the state’s foreign exchange reserves.
- Manage foreign loans, debt repayment, lending, and debt collection according to law.
- Lead, cooperate with related agencies to prepare content, conduct negotiations, sign international treaties with financial and monetary organizations for which the State Bank is the representative and acts as the official representative of the borrower, as stipulated in international treaties under the division, authorization of the President or the Government of Vietnam.
- Organize and implement international cooperation in terms of currency and banking.
- Represent the Socialist Republic of Vietnam at international monetary and banking organizations.
- Organize the credit information system and provide credit information services; conduct state management over organizations operating in credit information activities.
- Act as an agent and provide banking services for the State Treasury.
- Collaborate with the Ministry of Finance on the issuance of government bonds, bonds guaranteed by the Government of Vietnam.
- Organize training, professional development in currency and banking; research and apply banking science and technology.
- Other tasks and powers prescribed by law.
