State bank's organizational structure decreed
14:12 | 15/11/2013
VGP – The Government has issued a Decree defining functions, tasks, powers and organizational structure of the State Bank of Viet Nam (SBV).

Accordingly, the SBV is prescribed as a ministerial agency performing the State management of monetary and banking activities and operating as the Central Bank performing the State management of public services under its jurisdiction.

The SBV is responsible for making an annual inflation rate goal to submit to the Government and realizing national monetary policies including refinancing, utilizing interest rates, exchange rates, reserve requirement, open market operations and other instruments in order to implement the national monetary policies.

Besides, it is empowered to apply special treatment to those credit organizations that violate the monetary and banking regulations by buying their stakes, dismissing their managers, undertaking mergers and acquisitions of organizations, imposing special supervision on these institutions and implementing their rights and missions regarding these institutions' bankruptcy in line with law.

The SBV also inspects and investigates complaints, denunciations and violations related to the gold, credit management, banking, monetary and foreign reserves fields; organizes, controls and monitors the national payment system, provides payment services for banks, supervises the provision of intermediary payment services and monitors payment tools.

In regard to the implementation of the functions of the Central Bank, the SBV makes arrangement for minting, preservation and transportation of money, carries out the operations of issuance, withdrawal, replacement and destruction of money, refinances in order to provide short-term credit and payment instruments for the economy, regulates the money market and operates the interbank currency market.  

The organizational structure of the SBV includes Monetary Policy Department, Foreign Exchange Department, Payment Department, Credit Department, Monetary Statistics and Forecasting Department, International Cooperation Department, Internal Auditing Department, Legal Department, Accounting and Finance Department, Personnel Department, Emulation and Reward Department, SBV Office, Banking Information Technology Department, Issue and Vault Department, Administration Department, Banking Operation Center, Financial Supervision Agency, Branches in provinces and the cities under the central government, Representative Office in Ho Chi Minh City, Banking Strategy Institute, Credit Information Center, Banking Times, Banking Magazine and three Banking Training Schools.

By Thuy Dung

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