The State Bank of Vietnam hosted senior BNP Paribas representatives to discuss policy priorities for Vietnam’s banking sector, including the use of artificial intelligence in banking, development of an international financial centre, and creation of a green and sustainable finance classification system. The meeting also covered the forward agenda for cooperation between the central bank and BNP Paribas. The State Bank of Vietnam outlined that it is leading the drafting of a government decree on licensing for bank establishment and operations, and foreign exchange management, within the international financial centre framework in Vietnam. The planned approach aims to encourage participation by financially strong credit institutions and financial institutions to support capital flows and link Vietnam’s international financial centre to capital from major international financial centres. BNP Paribas shared international practices and trends for developing financial centres, including the importance of defining the economy’s distinctive strengths and aligning policy, including bank licensing policy, to attract investment. The Deputy Governor asked BNP Paribas to continue sharing information and providing expert input to support the State Bank of Vietnam’s work on the legal framework for these topics.

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