Decree No. 26/2025/NĐ-CP on the functions, tasks, powers, and organizational structure of the State Bank of Vietnam

DECREE

REGULATIONS ON THE FUNCTIONS, TASKS, POWERS AND ORGANIZATIONAL STRUCTURE OF THE STATE BANK OF VIETNAM

SOCIALIST REPUBLIC OF VIETNAM

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Pursuant to the Government Organization Law on February 18, 2025;

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

At the proposal of the Governor of the State Bank of Vietnam;

The Government promulgates this Decree to regulate the functions, tasks, powers, and organizational structure of the State Bank of Vietnam.

Article 1. Position and Functions

The State Bank of Vietnam (hereinafter referred to as the State Bank) is a ministry-level agency under the Government, the Central Bank of the Socialist Republic of Vietnam; it performs the function of state management over currency, banking activities, and foreign exchange (hereinafter referred to as currency and banking) and public services within the scope of management of the State Bank; it performs the function of the Central Bank regarding issuance of currency, banking for credit organizations, and providing monetary services to the Government.

b) Draft five-year and annual socio-economic development plans for the province; major economic and social balances for the province; draft five-year and annual plans, programs, projects, measures to organize and implement tasks related to socio-economic development, finance-budget, planning-investment, and other tasks within the scope of state management of the Department of Finance as prescribed by law;

The State Bank shall perform the tasks and powers stipulated in the Law on the State Bank of Vietnam, the Law on the Organization of the Government, the Government's regulations on the functions, tasks, powers, and organizational structure of ministries and ministerial-level agencies, and specific tasks and powers as follows:

1. Submit draft laws, draft resolutions of the National Assembly, draft ordinances, draft resolutions of the Standing Committee of the National Assembly; draft decrees, resolutions of the Government according to the annual legislative program of the State Bank approved and other resolutions, projects, programs assigned by the Government, Prime Minister; strategies, plans, long-term development plans; national target programs, action programs, and important national projects within the scope of management of the State Bank.

2. Submit draft decisions, directives, and other documents within the scope of management of the State Bank or as assigned by the Prime Minister.

3. Issue circulars and other documents within the scope of state management of the State Bank. Direct, guide, inspect, and be responsible for organizing the implementation of normative legal documents; development programs, projects, and plans already issued or approved within the scope of management of the State Bank.

4. Develop annual inflation targets to submit to the Government; use tools to implement national monetary policy, including: rediscounting, interest rates, exchange rates, reserve requirements, open market operations, issuance of State Bank bills, and other tools and measures to implement national monetary policy.

5. Organize statistics, statistical surveys, collection, and storage of information on the economy, finance, currency, and banking both domestically and internationally within the authority of the State Bank; carry out analysis and forecasting on currency and banking; publicly disclose information on currency and banking in accordance with the law.

6. Grant, amend, supplement, revoke licenses for the establishment and operation of credit organizations, branches of foreign banks, representative offices of foreign credit organizations, and other foreign organizations engaged in banking activities; grant, amend, supplement, and revoke licenses for non-bank organizations to provide payment intermediary services; grant, reissue, change contents, and revoke licenses for organizations to provide credit information services (certificates of eligibility to provide credit information services); grant and revoke certificates of registration for financial microprojects and programs; approve mergers, acquisitions, consolidations, and liquidations of credit organizations in accordance with the law.

7. Decide to apply special measures against credit organizations that seriously violate laws on currency and banking, face financial difficulties, and pose risks to the safety of the banking system, including: purchasing shares of credit organizations; suspending, temporarily suspending, or removing managers and directors from their positions at credit organizations; deciding to merge, consolidate, or dissolve credit organizations; placing credit organizations under special control; performing duties and powers in accordance with the law on bankruptcy for credit organizations.

8. Approve lists of candidates for election or appointment as members of the Board of Directors, Board of Members, Supervisory Board members, General Director (Director) of credit organizations; approve other changes in accordance with the Law on Credit Organizations.

9. Implement state management over anti-money laundering in accordance with the law on anti-money laundering.

10. Inspect, audit, supervise banking; inspect and audit foreign exchange activities, gold trading activities, and anti-money laundering activities; monitor credit activities; have the right to require inspected and supervised entities to hire independent auditing organizations to conduct independent audits in accordance with the law; handle violations of the law in the fields of currency, banking activities, foreign exchange, and anti-money laundering in accordance with the law.

11. Implement state management over deposit insurance in accordance with the law on deposit insurance.

12. Take the lead in establishing, monitoring, forecasting, and analyzing the results of implementing the balance of payments; report on the implementation of the balance of payments of Vietnam in accordance with the law; serve as the focal point for providing balance of payments data of Vietnam to domestic and foreign organizations in accordance with the law.

13. Organize, manage, operate, and supervise the security and effectiveness of the national payment system, provide payment services to banks; supervise the provision of payment intermediary services; participate in organizing and supervising the operation of payment systems in the economy; manage payment instruments in the economy.

14. Implement state management over foreign exchange, foreign exchange activities, and gold trading activities.

a) Manage foreign exchange activities in current transactions, capital transactions, and the use of foreign exchange on the territory of Vietnam; foreign exchange business operations and services, and other transactions related to foreign exchange; border area foreign exchange activities in accordance with the provisions of the law.

b) Manage the state's foreign exchange reserves in accordance with the provisions of the law; buy and sell foreign exchange in the domestic market for national monetary policy objectives; buy and sell foreign exchange with the state budget, international organizations, and other sources; buy and sell foreign exchange in the international market and conduct other foreign exchange transactions in accordance with the provisions of the law.

c) Announce exchange rates; decide on exchange rate regimes and mechanisms for managing exchange rates.

d) Issue and revoke approval documents for foreign exchange business operations and services to credit institutions, foreign bank branches, and other organizations in accordance with the provisions of the law.

đ) Manage foreign exchange activities related to foreign direct investment in Vietnam and Vietnamese investment abroad in accordance with the provisions of the law.

e) Manage gold trading activities in accordance with the provisions of the law.

g) Manage borrowing and repayment of foreign debt by resident entities that are eligible to borrow and repay foreign debt independently in accordance with the provisions of the law.

Guide procedures and organize the confirmation of registration or changes to foreign loans guaranteed by the government in accordance with the provisions of the law.

Manage lending, debt recovery, and guarantees for non-residents by credit institutions and economic organizations in accordance with the provisions of the law.

15. Represent the Socialist Republic of Vietnam and the Government of Vietnam at the International Monetary Fund (IMF), the World Bank Group (WB), the Asian Development Bank (ADB), the International Investment Bank (IIB), the International Economic Cooperation Bank (IBEC), the Asian Infrastructure Investment Bank (AIIB), and other international monetary and banking organizations.

Carry out the rights and obligations of Vietnam at international monetary and banking organizations where the State Bank of Vietnam is the representative; propose policies and measures to the Government and Prime Minister to develop and expand cooperation relations with these organizations.

16. Propose to the Government regarding the signing of specific international agreements on non-repayable ODA funds not linked to loans from international financial and monetary organizations represented by the State Bank of Vietnam in accordance with the provisions of the law.

17. Implement international cooperation in the fields of money, banking, and foreign exchange in accordance with the provisions of the law; participate and implement Vietnam's obligations as a member of international organizations combating money laundering.

18. Stabilize the monetary and financial system:

a) Aggregate, analyze, and forecast monetary and financial conditions; propose measures to prevent systemic risks in the monetary and financial sectors.

b) Develop policies and measures to respond to crises, ensuring stability in the monetary, banking, and financial systems.

19. Perform central bank operations:

a) Organize the design of currency models, printing, minting, storing, and transporting paper and metal currencies; perform issuance, recall, replacement, and destruction of paper and metal currencies.

b) Provide short-term funding and payment means to credit institutions through refinancing; provide refinancing to credit institutions to support specific entities as directed by the Government and Prime Minister.

c) Organize, manage, and develop the money market; manage and operate the domestic currency market and the interbank foreign exchange market.

20. Provide special loans to credit institutions in accordance with the provisions of the law.

21. Organize the credit information system and provide credit information services; perform state management functions over credit information organizations; analyze corporate and individual credit ratings on the territory of Vietnam.

22. Act as an agent and provide banking services for the National Treasury.

23. Participate with the Ministry of Finance in the issuance of government bonds and government-guaranteed bonds.

24. Approve investment policies, make investment decisions for programs and projects under the State Bank of Vietnam's jurisdiction; organize the monitoring, evaluation, supervision, inspection, and auditing of the implementation of plans, programs, and projects under the State Bank of Vietnam's jurisdiction in accordance with the provisions of the law.

25. Organize and direct scientific research, application of technological progress, and environmental protection in the banking sector in accordance with the provisions of the law.

26. Organize training and professional development in money and banking in accordance with the provisions of the law.

27. Decide on specific policies and measures and direct the operation mechanism of public service units in the monetary and banking sectors; manage public service units within its authority in accordance with the provisions of the law.

28. Perform the role of the owner of the state's share capital in credit institutions, financial organizations, and state-owned enterprises in accordance with the provisions of the law.

Use statutory capital to contribute to the establishment of special-purpose enterprises to fulfill the functions and responsibilities of the State Bank of Vietnam as decided by the Prime Minister.

29. Fulfill duties and powers over associations and non-governmental organizations under the State Bank of Vietnam's jurisdiction in accordance with the provisions of the law.

30. Conduct inspections, audits, resolve complaints and reports; prevent and combat corruption, receive citizens, practice thrift, and combat waste in accordance with the provisions of the law.

31. Decide and direct the implementation of the State Bank of Vietnam's administrative reform program according to the goals and content of the Government's administrative reform program and the Prime Minister's directives; decide and direct improvements in working methods, modernization of offices, civil service culture, and the application of information technology and digital transformation to serve the operations of the State Bank of Vietnam.

32. Manage and organize the communication activities of the banking industry related to the functions and responsibilities of the State Bank of Vietnam.

33. Managing the organizational structure, civil servant staffing, number of employees, job positions, cadre structure by rank, official structure by occupational title, and the number of people working in public service units; deciding on rotation, transfer, appointment, reappointment, dismissal, resignation, removal from office, retirement, termination of employment, commendation, disciplinary actions; systems, policies for incentives, training, and development of cadres, civil servants, officials, and employees within their jurisdiction as prescribed by law.

34. Submitting to the Prime Minister for the establishment of mechanisms for recruitment and incentive systems for cadres and civil servants that are appropriate to the special operational activities of the State Bank of Vietnam.

35. Managing financial resources and assets as prescribed by law.

36. Performing other tasks and exercising other powers assigned by the Government and the Prime Minister, as prescribed by law.

Article 3. Organizational Structure

1. Department of Monetary Policy.

2. Department of Payment Systems.

3. Department of Credit for Economic Sectors.

4. Department of Forecasting, Statistics - Monetary and Financial Stability.

5. International Cooperation Department;

6. Department of Legal Affairs.

7. Department of Finance and Accounting.

8. Department of Organization and Cadre Management.

9. Office.

10. Inspectorate of the State Bank of Vietnam.

11. Trading Department.

12. Information Technology Department.

13. Issuance and Treasury Department.

14. Foreign Exchange Management Department.

15. Anti-Money Laundering Department.

16. Department of Supervision and Management of Credit Institutions.

17. Department of Safety of Credit Institution Systems.

18. State Bank Branches in Regions (State Bank Region).

19. National Credit Information Center of Vietnam.

20. Banking Times.

Units from 1 to 18 are administrative organizations assisting the Governor of the State Bank of Vietnam in performing state management functions and central bank functions; units specified in 19 and 20 are public service units serving the state management functions of the State Bank of Vietnam.

The Department of Monetary Policy and the Department of Forecasting, Statistics - Monetary and Financial Stability have six divisions each. The Department of Credit for Economic Sectors, the Department of International Cooperation, the Department of Finance and Accounting, and the Department of Organization and Cadre Management have five divisions each. The Department of Payment Systems has four divisions. The Department of Legal Affairs has three divisions.

The Governor of the State Bank of Vietnam submits to the Prime Minister for issuance the list of other public service units under the State Bank of Vietnam.

The Governor of the State Bank of Vietnam issues decisions to define the functions, tasks, powers, and organizational structures of the organizations and units under the State Bank of Vietnam as prescribed by law.

Article 4. Effective date

1. This Decree shall take effect from March 1, 2025.

2. This Decree abolishes:

a) Decree No. 102/2022/NĐ-CP dated December 12, 2022 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

b) Decree No. 26/2014/NĐ-CP dated April 7, 2014 of the Government on the organization and operation of the Inspection and Supervision of the Banking Industry;

c) Decree No. 43/2019/NĐ-CP dated May 17, 2019 of the Government amending and supplementing certain articles of Decree No. 26/2014/NĐ-CP dated April 7, 2014 of the Government;

d) Decree No. 146/2024/NĐ-CP dated November 6, 2024 of the Government amending and supplementing, abolishing certain articles of Decree No. 102/2022/NĐ-CP dated December 12, 2022 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam and Decree No. 26/2014/NĐ-CP dated April 7, 2014 of the Government on the organization and operation of the Inspection and Supervision of the Banking Industry amended and supplemented by Decree No. 43/2019/NĐ-CP dated May 17, 2019 of the Government;

đ) Decision No. 18/2024/QĐ-TTg dated November 6, 2024 of the Prime Minister stipulating the functions, tasks, powers, and organizational structure of the Banking Inspection and Supervision Agency directly under the State Bank of Vietnam.

Article 5. Responsibilities for Implementation

The Governor of the State Bank of Vietnam, Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairpersons of provincial and centrally-administered city People's Committees are responsible for implementing this Decree.