To research and promulgate standards for payment via QR Code from users in Vietnam

To research and promulgate standards for payment via QR Code from users in Vietnam

Continue to improve banking legal institutions; proactively review, amend, and supplement mechanisms, policies, and legal regulations on banking operations in accordance with reality. In particular, we focus on the following key tasks:

- Complete the legal framework and policy mechanisms for payment activities and digital transformation in banking activities.

In particular, research and promulgate standards and general regulations on payment via QR Code from users in Vietnam; Review and amend regulations on banking code systems and regulations on the development and maintenance of banking software; Continue to review and research to develop a controlled testing mechanism to create conditions for the development of new business models, providing convenient and safe products and services to meet the needs of people and businesses.

- Submit to the Government and National Assembly the project Law on Credit Institutions (amended); promulgate and submit to competent authorities for promulgation legal documents guiding the Law on Anti-Money Laundering 2022. Research and review the Law on the State Bank of Vietnam 2010, the Law on Deposit Insurance 2012 to propose amendments and supplements (if necessary), and research and report on the development of the Law on Payment Systems.

- Review, amend, and complete the system of legal documents on restructuring and handling bad debts of credit institutions to create consistency and synchronization in the implementation process.

- Continue to review and improve mechanisms and policies on inspection and supervision activities, safety regulations on banking operations, regulations on buying and selling corporate bonds, governance, operations, and risk management of credit institutions... in a stricter, safer manner and in accordance with international practices and standards.

- Review and improve foreign exchange management policy in accordance with Vietnam's roadmap and commitments to international integration.

- Complete regulations on financial management and supervision of state owners at credit institutions, financial institutions, and enterprises managed by the State Bank.

- Continue to improve the legal basis, mechanisms, and policies regulating financial stability, macroprudential policies, and macroprudential tools to prevent systemic risks, minimize negative impacts on the economy, and better meet state management requirements on monetary and banking activities.

More details can be found in Directive 01/CT-NHNN, taking effect on January 15, 2024.

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