Strengthening supervision of payment systems

18:40 | 01/08/2014

VGP – The State Bank of Viet Nam (SBV) has promulgated a strategy to enhance supervision of payment systems in Viet Nam through 2020.

Accordingly, the country’s payment systems will be supervised in accordance with international norms in order to ensure the safety and stability of the national payment system.

It also aims to ensure the rights and obligations of members of the payment systems and promote public confidence in the banking system.

Supervision must be based on the principles of transparence, cohesion and cooperation with relevant agencies.

Systems under the direct monitoring of the SBV in 2014-2020 include the inter-banking payment system, the foreign currency payment system, the retail payment system and the securities clearing and settlement system.

The strategy will be implemented in two periods of 2014-2016 and 2017-2020./.

By Vien Nhu