Decree No. 26/2025/ND-CP dated February 24, 2025 on functions, tasks, powers and organizational structure of the State Bank of Vietnam

DECREE

ON FUNCTIONS, TASKS, POWERS AND ORGANIZATIONAL STRUCTURE OF THE STATE BANK OF VIETNAM

Pursuant to the Law on Government Organization dated February 18, 2025;

Pursuant to the Law on State Bank of Vietnam dated June 16, 2010;

At the request of the Governor of the State Bank of Vietnam;

The Government hereby promulgates a Decree on functions, tasks, powers and organizational structure of the State Bank of Vietnam.

Article 1. Position and functions

The State Bank of Vietnam (hereinafter referred to as “SBV”) is a ministerial agency of the Government of Vietnam and the Central Bank of the Socialist Republic of Vietnam; performs the state management of monetary and banking operations and foreign exchange (hereinafter referred to as “money and banking”) and public services under the management of the SBV; performs the functions of the Central Bank to issue money, acts as the bank of credit institutions and provides monetary services for the Government.

Article 2. Tasks and powers

The SBV shall perform its tasks and powers in accordance with the Law on the State Bank of Vietnam, Law on Government Organization, the Government's provisions on functions, tasks, powers and organizational structures of ministries, ministerial agencies and the following specific tasks and powers:

1. Submit the following documents to the Government: bills, draft resolutions of the National Assembly, draft ordinances and draft resolutions of the Standing Committee of the National Assembly; draft decrees and resolutions of the Government according to the SBV's approved annual legislative programs and resolutions, projects, schemes as assigned by the Government or the Prime Minister; annual and long-term development plans, strategies or planning and projects or works of national importance in the fields under the SBV's management.

2. Submit draft decisions, directives and other documents in the fields under the SBV's management or as assigned to the Prime Minister.

3. Promulgate circulars and other documents under the SBV’s state management. Direct, instruct, inspect and organize implementation of legislative documents; issued or approved development programs, plans, and projects under the SBV’s management.

4. Establish annual inflation targets to be proposed to the Government; use tools for implementing national monetary policies, including: refinancing, interest rates, exchange rates, reserve requirements, open market operations, issuance of SBV’s bills and other tools and measures adopted to implement national monetary policies.

5. Organize statistical production, statistical investigations, collection and retention of information on domestic and foreign economy, finance, money and banking under the SBV’s jurisdiction; carry out monetary and banking analysis and forecasting; publish monetary and banking information in accordance with regulations of law.

6. Issue, modify and revoke licenses for establishment and operation of credit institutions, licenses for establishment of foreign bank branches, representative offices of foreign credit institutions, other foreign institutions performing banking operations; issue, modify and revoke licenses for provision of payment intermediary services by non-bank institutions; issue, re-issue, revise and revoke licenses for provision of credit information services (or certificates of eligibility to provide credit information services) by institutions; issue and revoke registration certificates of microfinance programs/projects; grant approval of acquisition, sale, split-up, split-off, consolidation, merger and dissolution of credit institutions in accordance with regulations of law.

7. Make decisions to impose special control measures upon credit institutions which have committed serious violations against monetary and banking regulations, or are facing financial difficulties, causing risks of compromising the safety of the entire banking sector, including: purchase of shares of these credit institutions; suspend or dismiss managers and executives of credit institutions; make decisions on merger, consolidation or dissolution of credit institutions; place credit institutions under special control; perform the SBV’s tasks and powers in accordance with the provisions of law on bankruptcy in relation to credit institutions.

8. Consider granting approval of lists of persons whom credit institutions propose for appointment as members of Boards of Directors, Boards of Members, Supervisory Boards, General Directors (Directors)/CEOs of credit institutions; consider giving approval of other changes in accordance with the Law on Credit Institutions.

9. Perform state management of anti-money laundering operations in accordance with regulations of the Law on Anti-money Laundering.

10. Carry out inspection and supervision of banking operations; carry out inspection and supervision of forex, gold trading, and anti-money laundering operations; control the credit growth; reserve the right to request entities subject to banking inspections or supervisions to hire independent auditing organizations to conduct independent audits in accordance with the law; take actions against violations in the monetary, banking, foreign exchange and anti-money laundering sectors in accordance with regulations of law.

11. Perform state management of deposit insurance in accordance with regulations of the Law on Deposit Insurance.

12. Play the leading role in making, monitoring, forecasting and analyzing the implementation results of the balance of international payments; submit reports on Vietnam's implementation of balance of international payments in accordance with regulations of law; act as the leading agency in providing data on Vietnam’s balance of international payments to the relevant domestic and foreign organizations in accordance with regulations of law.

13. Organize, manage, operate and supervise the national payment system in a manner that ensures the safety and efficiency thereof, provide payment services to banks; supervise the provision of payment intermediary services; participate in organization and supervision of operations of the payment systems in the economy; manage payment facilities in the economy.

14. Perform state management of foreign currencies, foreign exchange and gold trading operations:

a) Manage foreign exchange operations in current transactions, capital transactions, and use of foreign currencies in the territory of Vietnam; foreign currency trading, provision of forex services and other transactions related to foreign currencies; foreign exchange operations conducted in border areas in accordance with regulations of law;

b) Manage the State's foreign exchange reserves in accordance with regulations of law; buy and sell foreign currencies in the domestic market to serve the implementation of national monetary policies; buy and sell foreign currencies using state budget, with international institutions and other sources; buy and sell foreign currencies in the international market and conduct other foreign exchange transactions in accordance with regulations of law;

c) Announce the exchange rates; issue decisions on exchange rate regimes and mechanisms for exchange rate management;

d) Issue and revoke written approvals of foreign currency trading and provision of forex services of credit institutions, foreign bank branches and other institutions in accordance with regulations of law;

dd) Manage foreign currencies in respect of foreign inward investment and Vietnamese outward investment in accordance with regulations of law;

e) Manage gold trading in accordance with regulations of law;

g) Manage the borrowing and repayment of foreign private loans taken by residents in accordance with regulations of law.

Provide guidelines on procedures and organize the certification of registration or registration of changes in foreign loans guaranteed by the Government in accordance with regulations of law;

h) Manage foreign lending and debt collection, guarantee for non-residents by credit institutions and business entities in accordance with regulations of law.

15. Represent the Socialist Republic of Vietnam, the Government of Vietnam in the International Monetary Fund (IMF), the World Bank Group (WBG), the Asian Development Bank (ADB), the International Investment Bank (IIB), the International Bank for Economic Cooperation (IBEC), the Asian Infrastructure Investment Bank (AIIB), and other international monetary and banking institutions.

Perform Vietnam's rights and obligations in the international monetary and banking institutions at which the SBV acts as the representative of Vietnam; propose policies and measures for development and expansion of cooperation relationship with these institutions to the Government or the Prime Minister for consideration.

16. Propose the Government’s conclusion of specific international conventions on ODA grants which are not tied to loans granted by international financial monetary institutions and international banks represented by SBV in accordance with regulations of law.

17. Promote international cooperation in the monetary, banking and foreign exchange sectors in accordance with regulations of law; participate in and discharge Vietnam's obligations as a member of international anti-money laundering organizations.

18. Maintain stability of monetary and financial systems:

a) Consolidate, analyze and forecast monetary and financial situations; propose measures for preventing systematic risks in the monetary and financial sectors;

b) Formulate policies and measures for response to crises and assurance of stability of monetary, banking and financial systems.

19. Perform operations of the Central Bank:

a) Organize design of money templates, printing, casting, storage and transport of paper notes and coins; take charge of issuance, withdrawal, replacement and destruction of paper notes and coins;

b) Take charge of refinancing which is aimed at providing short-term funding and payment facilities for credit institutions; provide refinancing loans for credit institutions in order to grant loans to specific entities according to direction or the Government or the Prime Minister;

c) Organize, operate and develop monetary market; organize management and operation of domestic money market and inter-bank foreign exchange market.

20. Offer special loans to credit institutions in accordance with regulations of law.

21. Organize the credit information system and provide credit information services; perform state management of organizations engaged in provision of credit information services; carry out analysis and credit rating of juridical persons and natural persons in the territory of Vietnam.

22. Act as an agency and provide banking services for State Treasury.

23. Cooperate with the Ministry of Finance of Vietnam in issuance of government bonds and government-backed bonds.

24. Make decisions on approval of investment guidelines, decisions on investments in programs or projects under the SBV’s management; organize the monitoring, assessment, supervision and inspection of implementation of plans, programs and/or projects under the SBV's management in accordance with regulations of law.

25. Organize and direct the performance of scientific research tasks, and application of scientific and technological advances and environmental protection solutions in the banking sector in accordance with regulations of law.

26. Organize professional training and refresher training in monetary and banking operations in accordance with regulations of law.

27. Make decisions on specific guidelines or measures and direct the implementation of operational mechanisms of providers of public services in the monetary, banking and foreign exchange sectors; manage public service providers under the SBV’s jurisdiction in accordance with regulations of law.

28. Act as the representative of state capital ownership at credit institutions, financial institutions, state-invested enterprises in accordance with regulations of law.

Use the SBV’s legal capital to make capital contribution to the establishment of specialized enterprises in order to perform the functions and tasks of the SBV in accordance with the decision of the Prime Minister.

29. Perform the SBV’s tasks and powers in relation to non-governmental organizations and associations under the SBV's jurisdiction in accordance with regulations of law.

30. Carry out inspections, settle complaints, denunciations; perform anti-corruption and citizen reception tasks; introduce thrift practice and wastefulness prevention in accordance with regulations of law.

31. Decide and direct the implementation of the SBV’s administrative reform programs in accordance with the objectives and contents of the administration reform programs of the Government and the directives of the Prime Minister; decide and direct the innovation of working methods, modernization of offices and public service culture and application of information technology and digital transformation to serve the operations of the SBV.

32. Manage and organize communication activities in banking sector in relation to the SBV’s tasks and functions.

33. Manage organizational structure, official payroll, number of employees, job positions, pay grade-based structure of officials, professional title-based structure of public employees and number of persons working in public service providers; make decisions on rotation, internal transfer, appointment, re-appointment, discharge, dismissal, resignation, retirement, commendation and reward, disciplinary actions; provide benefits, training and refresher training for officials, public employees and workers under the SBV’s jurisdiction in accordance with regulations of law.

34. Propose the recruitment mechanism and benefits for officials which are formulated in conformity with specific operations of SBV to the Prime Minister for consideration.

35. Manage allocated finance and assets in accordance with regulations of law.

36. Perform other tasks and entitlements assigned by the Government or Prime Minister in accordance with law.

Article 3. Organizational structure

1. Monetary Policy Department.

2. Payment Department.

3. Credit Department of Economic Sectors.

4. Department of Forecasting and Statistics - Monetary and Financial Stabilization.

5. Credit Department of Economic Sectors.

6. Legal Department.

7. Finance – Accounting Department.

8. Department of Personnel and Organization.

9. SBV Office.

10. SBV Inspectorate.

11. Operations Center.

12. Department of Information Technology.

13. Issue and Vault Department.

14. Foreign Exchange Management Department.

15. Anti-Money Laundering Department.

16. Credit Institution Management and Supervision Department.

17. Department of System Safety Supervision of Credit Institutions.

18. SBV’s regional branches.

19. National Credit Information Center of Vietnam.

20. Banking Times.

The units referred to in Clauses 1 through 18 of this Article are administrative agencies that assist the SBV’s Governor in performing the state management and the Central Bank’s functions; the units referred to in Clauses 21 through 25 of this Article are public service providers that perform the state management of the SBV.

The Monetary Policy Department and Department of Forecasting and Statistics - Monetary and Financial Stabilization are comprised of 6 divisions each. Credit Department of Economic Sectors, Credit Department of Economic Sectors, Finance – Accounting Department and Department of Personnel and Organization are comprised of 5 divisions each. Payment Department is comprised of 4 divisions. Legal Department is comprised of 3 divisions.

The SBV’s Governor shall propose a list of other public service providers affiliated to the SBV to the Prime Minister for promulgation.

The SBV’s Governor shall issue decisions on functions, tasks, powers and organizational structures of organizations and units affiliated to the SBV in accordance with regulations of law.

Article 4. Entry into force

1. This Decree comes into force from March 01, 2025.

2. This Decree shall annul:

a) Decree No. 102/2022/ND-CP dated February 12, 2022 of the Government on functions, tasks, powers and organizational structure of the State Bank of Vietnam;

b) Decree No. 26/2014/ND-CP dated April 07, 2014 of the Government of Vietnam on organization and operation of bank inspectors and supervisors;

c) Decree No. 43/2019/ND-CP dated May 17, 2019, of the Government amending certain articles of Decree No. 26/2014/ND-CP dated April 7, 2014, of the Government;

d) Decree No. 146/2024/ND-CP dated November 6, 2024, of the Government amending, supplementing, and annulling certain articles of Decree No. 102/2022/ND-CP dated December 12, 2022 of the Government on functions, tasks, powers and organizational structure of the State Bank of Vietnam and Decree No. 26/2014/ND-CP dated April 7, 2014 of the Government on the organization and operation of bank inspectors and supervisors which has been amended and supplemented by Decree No. 43/2019/ND-CP dated May 17, 2019, of the Government;

dd) Decision No. 18/2024/QD-TTg dated November 06, 2024 of the Prime Minister on functions, tasks, powers and organizational structure of the Banking Inspection and Supervision Agency affiliated to the State Bank of Vietnam.

Article 5. Implementation responsibilities

The SBV’s Governor, Ministers, Heads of ministerial agencies, Heads of Governmental agencies, Presidents of the People's Committees of provinces and central-affiliated cities are responsible for implementation of this Decree.