Four Initiatives in the Banking Sector Considered for Emulation and Commendation

13:02, 11/07/2024

On March 30, 2018, the State Bank of Vietnam issued Circular 08/2018/TT-NHNN providing guidance on emulation and commendation activities in the banking sector.

According to Circular 08, initiatives in the banking sector are new solutions created or improvements on previous solutions applied during the implementation process of tasks, bringing practical benefits, including:

- Management solutions are methods by which the managing entity organizes and directs the work of the managed subject to achieve certain purposes in the work;- Technical solutions are methods or technical means used to solve a defined task;- Operational solutions involve advising and proposing methods for performing tasks to help the managing entity solve work efficiently;- Solutions for applying advancements in science, technology, and new technologies are methods, ways, and measures for applying known technical solutions in the actual operations of banking.

See the classification of the scope of the impact of initiatives in Circular 08/2018/TT-NHNN which came into effect on May 15, 2018.

- Thanh Lam -

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