VNBA held the 4th Annual Conference successfully in 2024

Attending the conference, from the State Bank of Vietnam (SBV) side, there were: Mr. Pham Tien Dung - Member of the Party Committee, Deputy Governor of the State Bank of Vietnam; Ms. Le Thi Mai Huong, Permanent Deputy Secretary of the Central SBV Party Committee; Representatives of functional departments/units.

On the side of VNBA were Mr. Pham Duc An, Chairman of the Association Council; Mr. Pham Quang Tung, Vice Chairman of the Association Council; Mr. Tran Van Tan, Vice Chairman of the Association Council; Mr. Nguyen Quoc Hung, Vice Chairman of the Association Council and General Secretary of the Association; other Association Council members; with representatives of member organizations (MOs) and staff of the Standing Agency.

Speaking at the Conference, Deputy Governor Pham Tien Dung, on behalf of the State Bank's Party Committee and the Board of Management, acknowledged and appreciated the efforts and results the VNBA has achieved during the year 2023. The Association has done well in calling and mobilizing member organizations to implement the State policies and mechanisms strictly and consensually.

Carrying out tasks quite comprehensively, positively contributing to the overall success of the banking industry in all aspects.

Speaking at the Conference, the Chairman of the Association Council Pham Duc An said that implementing the regulations in the Charter of VNBA and the Resolution of the Association Council, VNBA organized The 4th Annual Conference, term VII to summarize and assess results achieved in 2023 and jointly to materialize the plans of performing in 2024.

The Chairman of the Association Council affirmed that, closely following the direction of the Government, the tasks of the industry and VNBA, VNBA has actively organized to implement resolutions, plans and working programs quite comprehensively and has contributed positively to the overall success of the industry in all aspects.

Reviewing the outstanding results in 2023, Vice Chairman and General Secretary of VNBA Nguyen Quoc Hung affirmed that, with high determination and active implementation of resolutions and working plans,  timely handling arising tasks, VNBA has completed its tasks successfully  and comprehensively, positively contributing to the overall results of the entire banking industry, in a difficult context of the global economy.

Over the past year, VNBA has been extremely proactive and responsible to participate in building mechanisms and policies, contributing to the improvement of the legal framework and creating favorable conditions for banking activities.

Specifically, VNBA has coordinated closely and regularly with ministries and related branches to provide comments and advices on 13 drafts of laws, 4 drafts of decrees, 15 drafts of circulars and 9 other documents related to banking activities. These are very important draft documents regulating the activities of credit institutions, namely the Law on Electronic Transactions (already issued); Amended Law on Credit Institutions (already issued); draft Law on Notarization (amended); Draft Decree on Protection of Consumer Rights; Circular on Prevention and Combat of money laundering...

Vice Chairman and General Secretary Nguyen Quoc Hung said that with a high sense of responsibility and appropriate comments, many opinions of the VNBA have been highly appreciated and recognized by competent authorities and has been absorbed and edited; In which, some agencies accept and edit right at the meeting.

In addition, VNBA has also performed well its role as a bridge between member organizations and state management agencies, protecting the legitimate rights and interests of member organizations.

In 2023, due to the impact of the world and domestic economies, the operations of member credit institutions were extremely difficult. VNBA promptly issued more than 30 documents, reports and recommendations to the National Assembly, the Government Office, ministries and branches on the operational situation, problems and shortcomings of the member credit institutions, "hot" issues that affected much on banking operations and proposed policies and solutions to solve and create conditions for credit institutions to operate safely and effectively.

At the same time, VNBA called on member organizations to implement strictly and consensually on the State mechanisms and policies, to form Conventions in their activities.

Also in the year 2023, VNBA successfully organized 40 forums, conferences, seminars, workshops and discussions; performed well the role as a member of the Prime Minister's Administrative Procedures Reform Advisory Council; promoted the activities of 2 specialized committees (Policy Committee and Technology Committee) and affiliated organizations (Legal Club of Card Association, AMC Club, Fintech Club and Consumer Finance Club).

In the past year, VNBA's communication work has had a very positive innovation and upgrading, effectively contributing to the general communication work of the banking industry.

Monetary and Financial Market Review has regularly updated on the market developments, disseminated and propagated the Party's policies and guidelines, state policies and laws, and updated industry regulations as well as the VNBA’s activities and its member organizations.

VNBA's Portal (website) has been upgraded with new interface and modern content management system (CMS) so as to post more and more news and articles. Other related communication channels have been established as Youtube, Fanpage, Tiktok...

Implementing training programs close to the actual training needs of credit institutions, VNBA training plan focuses on 4 main areas: Implementing policy mechanisms, legal corridors and legal knowledge in the field of banking and finance; Risk management, money laundering prevention, compliance with international standards; Digital transformation, fintech, cyber security, big data analysis; Green finance and sustainable development.

In the past year, the Association successfully organized 38 training/seminars/training programs (an increase of 108% compared to 2022), with a total number of attendees of 12,289 people (an increase of 141% compared to 2022).

Regarding international cooperation, VNBA continues to fulfill obligations and responsibilities in activities of the ASEAN Banking Association, connect and support member organizations to register to attend conferences, seminars, and workshops as proposed. VNBA also expands cooperative relationships with international financial institutions and banking associations of countries inside and outside the region to seek cooperation opportunities...

VNBA internal governance is also improved well.

Striving and determined to successfully complete working tasks in the year 2024

Following closely the Government's direction, the Banking industry's tasks and the VNBA's Resolution, continuing to promote achievements gained in 2023, Vice Chairman and General Secretary Nguyen Quoc Hung affirmed, VNBA is making all effort and determination to successfully complete the working tasks in 2024, focusing on 13 key tasks, with special emphasis on the following contents:

Firstly, focus on contributing comments to the policy mechanism, especially contributing to the industry's Decrees and Circulars to implement the Law on Credit Institutions recently passed by the National Assembly, and other decrees and circulars related to the Electronic Transactions Law, Land Law (amended), Real Estate Business Law (amended), Consumer Protection Law, Law on Execution of Judgments (amended), Notary Law, Civil Procedure Law...

Secondly, perform a good role as a bridge between member organizations and state management agencies, timely capture feedback on difficulties and problems of MOs during their operations and propose to competent agencies for consideration on the interests of MOs related to interest rate support policies, restructuring, bad debt handling, charter capital increase, mobilization and lending interest rate policies, VAT policy for L/C operations and collateral handling tax,...

Thirdly, continue to promote the positive aspects and at the same time further innovate communication activities as changing the content format of the Monetary and Financial Market Magazine, new interface of VNBA’s website, and opening VNBA’s portal in English version, publishing a Weekly Newsletter on the domestic and world economic & financial development, launching Report on Member organization’s activities and forming a centralized communication plan through social networks...

Fourthly, promote digital signature authentication to reduce costs for MOs when the Electronic Transactions Law takes effect. This is a very important content to support MOs in reducing fees of signature authentication, electronic signatures, specialized electronic signatures.

Fifthly, strongly innovate training, focusing on training content that MOs are interested in and serving the activities of MOs such as: digital transformation, population data, green finance, typess of payment frauds, operational risks, card payment risks, anti-money laundering, legal knowledge on contract disputes, secured transactions,...

We need stronger, more drastic and more effective cooperation from the Vietnam Banks Association

Agreeing with the reports of VNBA, State Bank of Vietnam’s Deputy Governor Pham Tien Dung said that in 2024, the world economic context is not favorable, so the task set for the banking industry is very heavy. Therefore, the Deputy Governor affirmed that there is a need for stronger, more drastic and more effective cooperation from VNBA and its members.

Deputy Governor Pham Tien Dung proposed that VNBA should focus on well implementing common tasks such as: Performing well as a focal point to link, to gather member organizations to seriously implement the guidelines and policies of the Party, State, Government and operating solutions of the State Bank of Vietnam; Actively participating in contributing comments to mechanisms and policies related to banking activities; Continuing to do well in communication and training.

In addition, the Deputy Governor further noted that in the current context of rapid digital transformation in the banking industry, high-tech criminals are also becoming more and more sophisticated and cunning, leading to fraudulent tricks through the application of high technology. It affects the reputation of the banking industry in payment, money transfer and other services. Therefore, the Deputy Governor requested both VNBA and credit institutions to pay special attention to this issue...

Deputy Governor Pham Tien Dung hopes that VNBA will promote the results achieved to successfully complete all assigned tasks, contributing to the overall results of the entire banking industry in 2024.

Accepting the instructions of Deputy Governor Pham Tien Dung, Chairman of the Association Council Pham Duc An expressed sincere thanks to the profound leadership and direction from the SBV’s Party Committee, the State Bank's Board of Management as well as the coordination of relevant ministries, branches and units and added that VNBA will seriously carry out the assigned tasks.

He also recommended that VNBA in general and member organizations in particular need to be deeply aware of the advantages and challenges to organize the synchronous and effective implementation of the solutions stated in the reports presented at the Conference.

"To fully complete the goals and tasks for 2024 as well as the entire term, the amount of work that needs to be implemented in the rest months of the year is very heavy. With the efforts, determination, solidarity and consensus of the member organizations, VNBA will focus on performing tasks at the highest level, successfully and comprehensively completing the set goals, contributing to the overall development of the banking industry, as well as promote the country's socio-economic development ", Chairman of the Association Council Pham Duc An emphasized.

At the Conference, the delegates unanimously approved the Resolution of the 4th Annual Conference, term VII.