The Code serves as a professional ethical guideline rather than a legal document, and does not replace existing regulations such as the Law on Credit Institutions 2024, the Civil Code 2015, or relevant circulars issued by the State Bank of Vietnam.
Four core principles
The Code is built upon four key principles:
- Full compliance with applicable laws and internal regulations;
- Respect for customers’ lawful rights and contractual agreements;
- Protection of the legitimate interests and reputation of credit institutions;
- Strict adherence to data privacy and confidentiality regulations, including the 2025 Personal Data Protection Law.
Standardizing debt collection practices
Based on these principles, the Code specifies behavioral standards for dealing with different customer segments (individuals and organizations), clearly defining:
- Permitted practices in debt collection;
- Prohibited actions, aiming to prevent misconduct and protect customer dignity and industry reputation.
Structure and Effectiveness
The Code consists of 3 chapters and 11 articles:
- Chapter I: General provisions (3 articles)
- Chapter II: Specific provisions (5 articles)
- Chapter III: Implementation (3 articles)
It takes effect from March 31, 2026. Member institutions are encouraged to develop their own internal regulations in alignment with this Code and are responsible for its implementation.
Implications
The issuance of the Code is expected to:
- Standardize debt collection practices across the banking system;
- Enhance transparency, professionalism, and ethical conduct;
- Strengthen public trust in the banking sector.
The full text of the Code of Conduct for Debt collection activities (in Vietnamese) can be found here.
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