The Development of Banking System in Vietnam

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The development orientation of the banking system of Vietnam from 2005 to 2020 In 2005, State Bank submitted to the Politic Ministry and Government a development project of the banking system from 2005 to 2020 according to the Resolution of 9th National Party. It is to build up a banking system develop safety and fairly; have enough the competitive ability; and integrate stability in international finance market. Firstly, the State Bank needs to re-structure basically and comprehensively the organization and the action of State Bank for which has enough ability to build and realize the monetary policy with market principle and advanced technology. Role and function of State Bank perform with international routines and rules for do effectively the national management function in the banking and monetary. Besides, it will be the foundation of the development of State Bank become sa modern central bank. The main innovation of State Bank focuses on following problems: Ensuring State Bank is independent, autonomous in the set up, conduct the monetary policy, interest rate and exchange rate; performs the function of actually central bank; is the bank issue money; is the bank of banks; is the central payment of nation; regulate the monetary market. Re-structure the organization of state bank from the center to the branch towards streamlined and modern, ensure that state banks has the responsibility in creating an open operating environment and favorable conditions for financial institutions n the territory of Vietnam Creating and implementing the monetary policy follow the market principle to base on the monetary policy setting with suitable communication and quantified target. Reform the supervision of system banking comprehensively to meet the actual needs of developing Vietnamese banking system and suit to the international rules and standard of banking supervision. The safety supervision system of Vietnamese banking operations will strive to satisfy the basic...
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