State Bank of Vietnam begins drafting decree on bank licensing, foreign exchange and AML controls for Vietnam’s international financial centre

The State Bank of Vietnam reported that Deputy Governor Nguyen Ngoc Canh joined Vietnam’s delegation meetings with Abu Dhabi Global Market and Dubai International Financial Centre, setting out the central bank’s direction for building the legal framework for Vietnam’s planned international financial centre in Ho Chi Minh City and Da Nang. As part of the implementation of the National Assembly decision to establish the centre, the government has assigned the State Bank of Vietnam to lead the drafting of a decree covering bank establishment and operating licences, foreign exchange management, anti-money laundering, counter-terrorist financing and measures against the proliferation of weapons of mass destruction within the centre. Engagement with the UAE centres focused on cooperation to develop policy mechanisms for capital markets, secondary financial services, fintech, green finance and digital assets, alongside exchanges on financial centre governance, AML and national financial security. During the Abu Dhabi Global Market meetings, Vietnam sought further detail on incentives used to attract international funds and talent, and a memorandum of understanding on developing the centre was signed between Abu Dhabi Global Market and the People’s Committees of Ho Chi Minh City and Da Nang. Vietnam and Abu Dhabi Global Market also agreed to coordinate an investment promotion event in the UAE in early 2026, while domestic work continues under the government’s action plan running through end-2025.