SBV looks to boost non-cash payment

VGP – The Governor of the State Bank of Viet Nam has recently issued Directive 01/CT-HNNN on key tasks of the SBV in 2020 especially the implementation of non-cash payment.

January 06, 2020 2:48 PM GMT+7

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The directive aims to implement the National Assembly’s Resolution on socio-economic development in 2020, the Government’s Resolution 01 and 02.

The Governor asked commercial banks, credit organizations, and foreign bank branches to implement the Government’s action motto “Discipline, integrity, action, responsibility, creation, and effectiveness,” and measures to regulate the monetary policies and banking operation to control inflation; stabilize the macro-economy; support economic growth; and ensure safety and development.

The directive targets to promote non-cash payment.

Earlier, SBV Governor Le Minh Hung said that the SBV has closely worked with the Ministry of Information and Communications to develop Mobile Money in 2020.

The Directive targets to renovate and perfect IT infrastructure; boost modern technology to develop digital banking services; strengthen security, safety, and security in banking operation.

The SBV reported that as of late October, 2019, Viet Nam houses 18,900 ATMs with 98,2 million ATM cards.

The value of inter-bank payment system daily valued VND 375 trillion (equivalent to US$ 17 billion per day)./.

By Khanh Phuong