Under the Prime Minister’s Lunar New Year 2025 preparations directive, the State Bank of Vietnam has been assigned a package of measures aimed at keeping monetary and financial services operating smoothly through the year-end and holiday period. The central bank is to monitor global and domestic developments closely and run monetary policy in a proactive and flexible manner, coordinated with an appropriately expansionary fiscal stance, to support growth while contributing to macroeconomic stability and inflation control. The directive also calls for the State Bank of Vietnam to instruct credit institutions to plan funding and balance resources to meet credit demand for production, business and consumption, steer lending toward priority and growth-supporting sectors, and tightly control credit to potentially risky areas. Operational requirements include ensuring adequate cash supply by value and denomination mix, strengthening vault security, supporting foreign exchange services and currency exchange for foreign visitors, and stepping up inspection and enforcement against violations in foreign exchange and gold trading and unlawful money exchange. For payments, the State Bank of Vietnam is to ensure the national interbank payment system and retail payment channels remain safe and uninterrupted, particularly electronic and card payments via ATMs and POS, alongside heightened cybersecurity monitoring, technical safeguards and staffing, and stronger supervision of banks and foreign bank branches to maintain system safety.
State Bank of Vietnam 2025-01-03
State Bank of Vietnam to implement Prime Minister directive on credit, cash supply and payment system readiness for Lunar New Year 2025
The State Bank of Vietnam, following the Prime Minister's directive for Lunar New Year 2025, will ensure smooth monetary services through flexible policy and expansionary fiscal measures. It will guide credit institutions to prioritize growth sectors, control risky credit, ensure cash supply, enhance foreign exchange services, maintain payment system safety, focus on electronic payments, and strengthen cybersecurity and bank supervision.