Vietnam: Objectives of oversight and supervision of important payment systems
On August 30, 2018, the State Bank of Vietnam issued Circular No. 20/2018/TT-NHNN prescribing oversight and supervision of payment systems. According to this Circular, oversight and supervision of important payment systems are aimed at achieving certain objectives.
Article table of contents
Specifically, according to Article 4 of Circular No. 20/2018/TT-NHNN of the State Bank of Vietnam, oversight and supervision of important payment systems are aimed at achieving the following objectives:
First, to ensure safety, stability and efficiency of important payment systems.
Second, to ensure their compliance with legislative regulations.
Third, to punctually detect and give warnings to operating organizations in order to minimize risks arising during the process of operating important payment systems.
Fourth, to protect legitimate rights and interests of clients using payment services and increase the client’s trust in payment services.
View more details at: Circular No. 20/2018/TT-NHNN of the State Bank of Vietnam takes effect from January 01, 2019.
- Key word:
- Circular No. 20/2018/TT-NHNN
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