Vietnam Banks Association makes important contributions to the development of the banking industry

As a bridge between credit institutions and state management agencies, the Vietnam Banking Association is assessed to have played and is playing a role in the development and innovation of the banking industry.

On May 10, in Hanoi, the Vietnam Banks Association (VNBA) held a ceremony to celebrate its 30th anniversary (May 14, 1994 - May 14, 2024). Attending the ceremony were leaders of the State Bank of Vietnam (SBV) through the periods.

Speaking on the occasion of the 30th anniversary, Vice Chairman and General Secretary of the Vietnam Banks Association, Dr. Nguyen Quoc Hung, emphasized that the establishment of VNBA marked a new development step of the system of credit institutions (CIs) in Vietnam.

Since then, member credit institutions have had an organization to represent and protect their legitimate and legal rights and interests; to act as a bridge between member organizations and state management agencies, aiming at the goal of stability, safety and efficiency, contributing to the implementation of policies of the Government and the State Bank to promote socio-economic development.

To date, the Association has 75 member organizations, including: 63 official members, 10 associate members and 2 honorary members. Among them are 42 commercial banks, 14 financial companies, 15 payment intermediary organizations and Fintech, 2 organizations operating in the field of communication and training, and 2 other financial institutions.

Deputy Governor of the State Bank of Vietnam Pham Tien Dung assessed the activities of VNBA at the anniversary ceremony.

Assessing the activities of VNBA over the past 30 years, Deputy Governor of the State Bank of Vietnam Pham Tien Dung said that VNBA has been fulfilling its role and position as a professional association, a reliable bridge between member organizations and state management agencies, supporting members to cooperate and develop safely and effectively.

Specifically, VNBA has performed important tasks of the banking industry such as: Actively participate in the management of credit institutions, financial and monetary situations such as resolving bad debts, etc.; Contribute to perfecting a solid legal framework, building a modern, safe and effective banking system; Be the focal point for connecting and gathering member organizations to agree with the policies and management of the Government and the State Bank; Be a reliable bridge between member organizations and state management agencies;...

With the positive results achieved, on this occasion, the Vietnam Banking Association received a Certificate of Merit from the Prime Minister for "Outstanding achievements in work, contributing to stabilizing interest rates, controlling inflation, stabilizing the macro economy, and developing the socio-economy". In addition, at the celebration, VNBA also received a Certificate of Merit from the Ministry of Justice.

In addition to the achievements, with the challenges ahead, VNBA will continue to strive and innovate to successfully complete the assigned tasks, with some key contents such as: Actively participating with member credit institutions in providing quality comments on mechanisms, policies, and legal documents related to banking activities; Improving the quality and effectiveness of communication work through the Financial and Monetary Market Magazine channel...

Source: https://phunuvietnam.vn/hiep-hoi-ngan-hang-viet-nam-dong-gop-quan-trong-cho-su-phat-trien-nganh-ngan-hang-20240510233031907.htm