Organizational structure of the Department of Banking and Financial Institutions in Vietnam

Organizational structure of the Department of Banking and Financial Institutions in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. What is the Department of Banking and Financial Institutions?

Department of Banking and Financial Institutions and Financial Institutions is a unit under the Ministry of Finance, with the function of advising and assisting the Minister of Finance in managing the financial market and financial services under the state management of the Ministry of Finance;

At the same time, perform the state management of finance for the State Bank of Vietnam, credit institutions, and financial institutions; State management over lottery, betting, casino, prize-winning electronic games, state financial funds, and other financial institutions.

(Article 1 of Decision 289/QD-BTC in 2018)

2. Organizational structure of the Department of Banking and Financial Institutions in Vietnam

Specifically, Article 3 of Decision 289/QD-BTC in 2018 stipulates the organizational structure of the Department of Banking and Financial Institutions as follows:

- The Department of Banking and Financial Institutions has a Director and no more than 03 (three) Deputy Directors.

- The Director of the Department of Banking and Financial Institutions is responsible to the Minister of Finance for all activities of the Department; including managing civil servants and assigned assets according to regulations.

- The Deputy Director of the Department of Banking and Financial Institutions is responsible for the assigned tasks.

- The Banking and Finance Department has the following departments:

+ Financial Markets Department.

+ Banking Department.

+ Department of Financial Institutions.

+ Lottery room and games with prizes.

- The specific tasks of the departments are prescribed by the Director of the Department of Banking and Financial Institutions.

- The Banking and Finance Department works under the departmental organization in combination with the specialist mode. For work performed under the specialist regime, the Director General shall assign tasks to officials and civil servants in accordance with their titles, standards, and professional capacity to ensure the completion of assigned tasks.

- The payroll of the Department of Banking and Financial Institutions is decided by the Minister of Finance.

3. Some tasks of the Department of Banking and Financial Institutions in Vietnam

The Banking and Finance Department has the following tasks:

- Advise and assist the Minister of Finance in exercising a number of rights and obligations to represent the owner of the State's capital portion at the Vietnam Lottery One-member Limited Liability Company, the Stock Exchange, the Securities Depository Center, the Vietnam Development Bank, and other State financial institutions as assigned by the Minister of Finance.

- Advise and assist leaders of the Ministry of Finance in performing their duties as a member of the Board of Directors at the Bank for Social Policies and other financial institutions as assigned by the Prime Minister.

- Act as the focal point to participate in research, the development of legal policies, wage unit prices (salary table, grade, salary grade, allowance regime, salary and income management); other policies and regimes for units under the Department's management.

- Assume the prime responsibility for, and coordinate with organizations and units under the Ministry in, monitoring and urging the handling and settlement of specific financial conclusions and recommendations of the State Audit, inspection agencies, and public security agencies for subjects under their management and as assigned by the Minister of Finance.

- Organize the work of statistics, analysis, evaluation, and forecast of state budget revenues and expenditures for the fields under the functions and tasks of the Department; comply with the information and reporting regime as prescribed.

- Preside over or coordinate with relevant units in organizing information, propagating and disseminating laws, consolidating documents, legislative documents, and checking documents for the fields under the functions and tasks of the Department.

- Coordinate with relevant units to organize the implementation of international cooperation and international integration tasks in the fields of functions and tasks of the Department; receive and organize the implementation of international cooperation projects and programs, provide technical assistance for policy formulation and implementation as assigned by the Minister of Finance.

- Assist the Minister of Finance in performing the financial management of associations, professional organizations, and non-governmental organizations within the Department's functions and tasks in accordance with law.

- Organize scientific research or cooperate in scientific research with units inside and outside the industry according to plans and contents approved by competent authorities.

- Perform other tasks and powers assigned by the Minister of Finance and in accordance with law.

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(More details can be found in Article 2 of Decision 289/QD-BTC in 2018)

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