VNBA received Timor-Leste Central Banking delegation

Attending the meeting on Timor-Leste Central Banking delegation were: Mr. Helder Lopes, Governor of the Central Bank Timor-Leste; Mr. Patrocíio Fernandes Dos Reis, Chairman of Committee A, National Assembly Timor-Leste; Together with senior members of the National Assembly and the Central Bank Timor-Leste, representatives from the International Finance Company (IFC).
On VNBA side, there is TS. Nguyen Quoc Hung, Vice Chairman and General Secretary and leaders of committees and units of VNBA Standing Agency.

The goal of the mission is to exchange and discuss security transactions in Vietnam and the role of VNBA in perfecting the laws and institutions on security transactions for banking activities.
Speaking at the meeting, PhD. Nguyen Quoc Hung on behalf of the Board of Directors of the Vietnam Banking Association welcomed the Central Bank and National Assembly Timor-Leste for the first time visiting and working with VNBA. PhD. Nguyen Quoc Hung evaluated the visit of the mission will create a premise to enhance bilateral cooperation between the two sides as well as the banking system between Timor-Leste and Vietnam in the future, thereby promoting bilateral investment and trade relations between the two countries.
Disapped in the organizational structure and operation of VNBA, PhD. Nguyen Quoc Hung said that VNBA currently has 76 members and VNBA is responsible for protecting the legitimate rights and interests of members. In the organizational structure of the VNBA Standing Agency, there are 7 rooms and specialized departments with representative offices in Ho Chi Minh City. Ho Chi Minh. In addition, VNBA also has a number of affiliated organizations such as: Policy Committee, Technology Committee, Bank Card Association, Legal Club; Consumer financial club; Fintech Club; AMC Club, ...
Dr. Nguyen Quoc Hung also added that VNBA has two media channels: Electronic information Portal and Monetary and Monetary Market Magazine, with close coordination with dozens of press and television agencies to promote communication activities of member organizations. Through communication, the activities of members and banking industry are more widely and more effective.

Regarding the issues that the delegation cares, Vice Chairman and General Secretary Nguyen Quoc Hung said that over the past time, the Vietnam Banking Association has effectively implemented many activities to support members, protect the legitimate rights and interests of members in accordance with the law; Disseminating, exchanging experiences, organizing events, conferences, seminars, seminars, exhibitions issues related to banking activities.

Accordingly, VNBA also plays an important role in perfecting the laws and institutions on security transactions in Vietnam, contributing to creating a favorable legal environment for credit activities and protecting the legal rights of credit institutions.

Specifically, VNBA is a bridge between credit institutions and state management agencies, regularly organizing meetings and seminars to collect opinions from members about difficulties and obstacles in the application of the law on security transactions.

On that basis, VNBA has summarized, analyzed and made recommendations, proposed amendments and supplements to the law provisions to suit the practice of the banking industry.

In addition, VNBA also actively participated in the draft laws, decrees and circulars related to security transactions, ensuring the feasibility, synchronization and unity of the legal system such as: Civil Code; Decree 21/2021/ND-CP stipulates the implementation of the Civil Code on ensuring the performance of obligations; Decree 99/2022/ND-CP on registration of security measures; Circular 08/2018/TT-BTP guides a number of issues on registration, providing information on security measures ... When developing decrees and circulars related to security transactions, the Ministry of Justice invites VNBA to participate as members of the drafting board and editorial team. At the same time, VNBA also participated seriously and responsibly to ensure the drafts were feasible, in accordance with the practice of credit institutions.

In addition, VNBA also coordinated with the Ministry of Justice (the focal point of the drafting) to organize many seminars and seminars to exchange and listen directly to the comments of credit institutions in each term of the draft. Therefore, the participation of VNBA has helped state management agencies to have more information and practical bases to develop quality and effective legal documents ...

PhD. Nguyen Quoc Hung also added that VNBA has issued a number of conventional documents for members such as the Ministry of Professional Ethics Standards and the Code of Conduct of Bank Officers; The set of rules and unified practice on the list, the principle of providing documents for one -way money transactions abroad of residents are Vietnamese citizens. Currently continuing to draft a manual manual coordination, support accounting of accounts/cards related to transactions suspected of fake fraud, fraud and manual guiding supply, operation and use of cross -border payment service by QR code. In addition, VNBA also cooperates with IFC to build two sets of professional documents related to debt processing, including "Handbook of instructions for restructuring debt in court" and "Code of Conduct in debt recovery activities".

Therefore, TS. Nguyen Quoc Hung hopes that, through the meeting, talking to Timor-Leste's delegation will contribute more practical experience for the mission to refer to the construction of Timor-Leste's banking law institution.

Exchanging at the meeting, Mr. Helder Lopes, Governor of the Central Bank of Timor-Leste expressed his pleasure to meet and talk with the VNBA leader. At the same time, thanks to the respectful and warm welcome from VNBA for the delegation. Mr. Helder Lopes also appreciated information from VNBA shared, provided and specific and detailed exchanges from TS. Nguyen Quoc Hung.

Mr. Helder Lopes also talked to VNBA about the organizational structure and operation of the Central Bank Timor-Leste and the banking system. He said the information shared and exchanged at VNBA's meeting was very valuable for the Central Bank Timor-Leste to refer.

At the end of the meeting, the two sides hope that in the coming time will continue to coordinate closely, exchange regularly and promote and consolidate cooperation in the coming time.

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