Present at the meeting were Mr. Tran Phuong, Chairman of the Policy Committee and Deputy General Director of BIDV, along with members of the Policy Committee and its Working Group.
Strengthening policy advisory role
In his remarks, Mr. Tran Phuong highlighted that 2025 was a pivotal year marked by the enactment of many key laws and guiding legal documents that directly influence the banking system. The State Bank of Vietnam issued various circulars related to risk management, internal control, Basel III implementation roadmap, green finance, and anti-money laundering standards aligned with international practices.
Against this backdrop of an increasingly complete legal framework, the Policy Committee closely followed its 2025 work program with three main priorities:
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Participating in policy formulation and policy review;
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Organizing in-depth thematic workshops to serve member needs; and
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Developing strategic policy reports to advise the Association Council and support VNBA’s policy consultation and feedback to regulators.
Looking ahead to 2026, as numerous new laws will come into effect — including the Deposit Insurance Law, Personal Data Protection Law, and the regulatory sandbox mechanism for financial technology — the Policy Committee has committed to intensify its research and policy advisory efforts. Quarterly expert seminars are planned, with additional workshops and roundtable discussions to be organized as necessary.
Review of 2025 activities
Ms. Nguyen Thi Phuong, Head of the Policy Committee’s Working Group, reported that 2025 witnessed significant institutional developments, including the National Assembly’s passage of 86 laws and legal amendments related to economic and financial activities; the Government’s issuance of over 300 guiding decrees; and the banking sector’s adoption of approximately 86 circulars regulating key banking operations.
The Policy Committee actively provided feedback on several important draft legal texts, such as the draft amendments to the Law on Credit Institutions, the Civil Judgment Enforcement Law, the Enterprise Bankruptcy Law, the Personal Data Protection Law, and relevant decrees on non-performing loans, securities, data regulation, and green project interest support.
In addition, the Committee coordinated numerous thematic discussions, including:
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A workshop on draft amendments to the Law on Credit Institutions;
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A workshop on enhancing the legal framework for green finance (in partnership with Agribank);
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A workshop on developing digital banking ecosystems (in collaboration with Vietcombank).
The Committee also developed key policy reports, including one on legal issues in intermediary payment services, and a proposal outlining how the banking sector can contribute to economic growth objectives for 2026–2030.
2026 Focus: Policy connectivity and emerging themes
For 2026, the Policy Committee will continue to prioritize policy advisory contributions on important regulatory mechanisms impacting banking operations. It will coordinate closely with the VNBA’s Legal and Operations Division and the Banking Law Club.
Key research and workshop topics include:
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Data governance, digital transformation, and cybersecurity in light of the Personal Data Protection Law;
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System safety and deposit insurance, focusing on implementation of the Law on Credit Institutions 2024 and Deposit Insurance law;
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Taxation, accounting transparency, and the roadmap for adopting International Financial Reporting Standards (IFRS);
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Payment systems and digital financial services, including cashless payments, e-wallet regulation, and fintech sandbox mechanisms.
Thematically focused workshops will assess policy impacts, identify legal bottlenecks, share practical experience, and propose legal framework improvements.
During the meeting, Committee members broadly agreed with the 2025 performance report and the 2026 work program, and recommended expanding research areas to include data governance, artificial intelligence applications in banking, and inviting regulatory representatives to participate in subject-matter discussions to enrich policy dialogues.
Collaboration and strategic direction
Some delegates also proposed enhancing coordination between the Policy Committee and other specialized committees, such as the Technology and Risk Committees, to improve relevance and reduce overlap in research and seminar activities.
In his concluding remarks, Dr. Nguyen Quoc Hung, Vice Chairman and General Secretary of VNBA, commended the Committee’s responsible and effective work, stressing its vital role in advising on policy matters. He emphasized that as the number of banking-related laws, decrees, and circulars continues to grow, evidence-based policy review and practical feedback are especially important.
Dr. Nguyen also encouraged deeper collaboration with other expert committees to enhance policy research effectiveness and support member institutions in adapting to regulatory changes.
The meeting concluded with Mr. Tran Phuong reaffirming the Committee’s commitment to incorporating guidance from the Vice Chairman and insights from Committee members to finalize the 2026 work program. With the guiding principle of being “faster, more effective, and action-oriented,” the Policy Committee aims to accelerate the implementation of its planned activities with excellence and impact.
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