Decree No. 52/2003/ND-CP on the functions, tasks, powers, and organizational structure of the State Bank of Vietnam

DECREE

Regulations on functions, tasks, powers, and organizational structure

of the State Bank of Vietnam

__________________

THE GOVERNMENT

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Based on the Law on the State Bank of Vietnam dated December 12, 1997;

Pursuant to the Resolution of the National Assembly No. 02/2002/QH11 dated August 5, 2002 on the list of ministries and ministerial-level agencies of the Government;

Considering the proposal of the Head of the Cadre and Civil Service Department,

At the proposal of the Governor of the State Bank of Vietnam and the Minister of Home Affairs,

DECREE:

Article 1. Position and functions

The State Bank of Vietnam (hereinafter referred to as the State Bank) is a ministerial-level agency of the Government with the function of state management over currency, banking activities, and being the Central Bank of the Socialist Republic of Vietnam; managing state services and performing the role of the state owner's representative for the state capital at enterprises with state capital in the banking sector according to the provisions of the law.

Article 2. Tasks and Powers

The State Bank shall perform the tasks and powers stipulated in the Decree No. 86/2002/NĐ-CP dated November 5, 2002 of the Government on the functions, tasks, powers, and organizational structure of ministries and ministerial-level agencies and the following specific tasks and powers:

1. Submit to the Government and the Prime Minister draft laws, ordinances, and draft regulatory legal documents concerning currency and banking activities.

2. Submit to the Government strategic plans, development plans, long-term, five-year, and annual plans regarding currency and banking activities.

3. Issue decisions, directives, and circulars within the scope of state management of the State Bank.

4. Direct, guide, inspect, and be responsible for implementing regulatory legal documents, strategies, plans, and other legal documents within the scope of management of the industry after approval; disseminate, popularize, educate about the law, and provide information on banking activities.

5. Regarding currency and banking activities:

a) Develop a national monetary policy project for the Government to consider and submit to the National Assembly for decision and organize its implementation; submit to the Government a project on developing the banking system and credit organizations;

b) Grant, revoke licenses for the establishment and operation of credit organizations, except in cases decided by the Prime Minister; grant, revoke licenses for the operation of banks for other organizations; decide on dissolution, approval of division, separation, merger, and consolidation of credit organizations in accordance with the law;

c) Inspect and audit banking activities, credit control; inspect, check, resolve complaints, denunciations, anti-corruption, and negative practices; handle violations of the law in the field of currency and banking activities within the authority granted;

d) Manage foreign borrowing and repayment of debts of enterprises in accordance with the Government's regulations;

đ) Take the lead in establishing and monitoring the results of implementing the balance of payments;

e) Manage foreign exchange, foreign exchange activities, and manage gold import and export activities;

f) Sign and participate in international treaties on currency and banking activities in accordance with the law;

g) Represent the Socialist Republic of Vietnam in international monetary and banking organizations when authorized by the President of the State and the Government;

h) Organize training and upgrading of banking skills; research and apply banking science and technology.

6. Perform the functions of the Central Bank:

a) Organize printing, minting, storing, and transporting money; implement issuance, recovery, replacement, and destruction of money operations;

b) Implement refinancing to provide short-term credit and payment means for the economy;

c) Manage the money market; implement open market operations;

d) Control international reserves, manage state foreign exchange reserves;

đ) Organize the banking payment system, provide payment services, and manage the supply of payment means;

e) Act as an agent and provide banking services for the State Treasury;

f) Organize the banking information system and provide banking information services.

7. Appraise and inspect the implementation of investment projects in the banking sector in accordance with the law.

8. Implement international cooperation in the banking sector in accordance with the law.

9. Decide on specific policies and measures and direct the implementation of operational mechanisms for public service organizations in the banking sector in accordance with the law, manage and direct the activities of organizations under the State Bank.

10. Perform specific duties and powers related to the role of the state owner's representative for the state capital at enterprises with state capital in the banking sector in accordance with the law.

11. Manage state activities of associations and non-governmental organizations in the banking sector in accordance with the law.

12. Decide and direct the implementation of the administrative reform program of the State Bank in accordance with the goals and contents of the administrative reform program approved by the Prime Minister.

13. Manage organization, staffing; direct the implementation of salary systems and incentive policies, rewards, and disciplinary actions for officials, civil servants, and employees under the management of the State Bank.

14. Manage finance and assets assigned in accordance with the law.

15. Participate in building strategies and plans for national socio-economic development.

Article 3. The organizational structure of the State Bank includes:

a) Organizations assisting the Governor of the State Bank in performing state management functions and Central Bank functions:

1. Monetary Policy Department;

2. Banking Development Strategy Department;

3. International Cooperation Department;

4. Foreign Exchange Management Department;

5. Banks and Non-Bank Credit Institutions Department (referred to as Banks Department);

6. Cooperative Credit Institutions Department;

7. General Supervision Department;

8. Credit Department;

9. Accounting and Finance Department;

10. Department of Cadre and Civil Service Management;

11. Legal Department;

12. Banking Inspectorate;

13. Office;

14. Trading Branch;

15. Currency Issuance and Treasury Branch;

16. Banking Information Technology Center;

17. Administrative Services Agency.

These organizations mentioned in this clause have offices and are decided by the Governor of the State Bank after coordinating with the Minister of Home Affairs.

b) Branches in provinces and centrally governed cities.

c) Representative office in Ho Chi Minh City.

d) Service organizations:

1. Banking Times Newspaper;

2. Banking Magazine;

3. Banking Academy;

4. Ho Chi Minh City University of Banking;

5. Credit Information Center.

Article 4. Effectiveness

This Decree shall take effect fifteen days after its publication in the Official Gazette and shall replace Government Decree No. 88/1998/NĐ-CP dated November 2, 1998 on the functions, powers, and organizational structure of the State Bank of Vietnam and any previous provisions that conflict with this Decree.

Article 5. Responsibility for Implementation

The Governor of the State Bank of Vietnam, Ministers, Heads of ministerial-level agencies, Heads of government agencies, Chairpersons of People's Committees of provinces and centrally governed cities are responsible for implementing this Decree./.