THE SOCIALIST REPUBLIC OF VIET NAM
Government News
SBV modernizes its information management system
VGP – The State Bank of Việt Nam (SBV) is speeding up the project Financial Sector Modernization and Information Management System (FSMIMS).
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VietinBank is the appointed manager of the FSMIMS |
The project totally costs over US $71.8 million, of which US $60 million come from the World Bank (WB) and US $0.83 million form the Japanese Government. Việt Nam contributes the rest US $11 million.
The purpose of the project is to develop an information management system to improve the efficiency and performance of the SBV, Credit Information Center and the Deposit Insurance of Việt Nam.
It is expected that once the project is completed, SBV’s information management system as well as management capacity will reach international standards, which help the central bank to respond more effectively and flexibly to adverse changes and fluctuations of the banking, financial and credit sectors.
The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) on Monday was appointed by the SBV Governor to become an intermediary organization which will manage foreign loans for the project.
By Hải Minh