Vietnam issues decree defining the State Bank of Vietnam’s mandate and organisational structure effective 1 March 2025

The Government of Vietnam issued a decree setting out the functions, tasks, powers and organisational structure of the State Bank of Vietnam (SBV), with effect from 1 March 2025. The decree reiterates SBV’s role in proposing annual inflation targets and implementing national monetary policy using tools including refinancing, interest rates, the exchange rate, reserve requirements, open market operations and issuance of SBV bills. It also sets out SBV’s regulatory and supervisory powers, including licensing and approvals for credit institutions, foreign bank branches and representative offices, non-bank payment intermediary service providers, and credit information service providers, as well as approvals for restructuring transactions and the application of special intervention measures for troubled institutions. Other responsibilities covered include anti-money laundering supervision, banking and foreign exchange inspection and supervision (including gold trading), oversight of deposit insurance, operation and oversight of the national payment system and payment instruments, balance of payments compilation and reporting, operation of the credit information system, and acting as agent for the State Treasury. The organisational structure is specified as 20 units, including functional departments and bureaus, the SBV Inspectorate, regional SBV branches, the National Credit Information Centre of Vietnam and Banking Times, with units 1–18 classified as administrative and units 19–20 as public service units. The SBV Governor will submit to the Prime Minister a list of other public service units under SBV and issue decisions detailing the functions and internal structures of SBV units.