Britain helps Vietnam in banking inspection and supervision
The State Bank of Vietnam (SBV) and Britain’s Financial Supervision Authority (FSA) signed a letter on exchange of information on banking inspection and supervision in Hanoi on September 17.
Signatories to the document were SBV Governor Nguyen Van Giau and British Ambassador to Vietnam Robert Gordon.
The cooperation is one of the conditions for foreign banks to get licenses to open branches and set up joint venture banks or wholly-invested banks in Vietnam under Decree No 22/2000/ND-CP dated February 28, 2006.
Currently, SBV has proposed the signing of the letter of exchange of information and will continue to discuss the next steps.
The two sides agreed to continue to boost cooperation between Vietnam’s banking system including SBV with London Financial District - one of the world’s largest financial markets.
Britain is one of the largest ODA providers to Vietnam, focusing on poverty reduction and hunger elimination and providing technical assistance for Vietnam to integrate into the global banking sector. (VOV)
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