Banking Laws

Law on Credit Institutions (No. 47/2010/QH12)
(Luật Tín dụng)

Date Enacted: November 16, 2010

Individuals and Organizations Regulated: This law regulates credit institutions, including banks, financial companies, and other institutions that engage in lending activities in Vietnam.

Activities Regulated: The Law on Credit Institutions sets out the requirements for establishing and operating credit institutions in Vietnam, including the licensing and registration procedures, capital requirements, and prudential regulations. The law also establishes the State Bank of Vietnam as the regulatory authority for credit institutions in the country.

Purpose of the Law: The primary purpose of this law is to promote the stability and soundness of the banking sector in Vietnam, while protecting the interests of depositors and borrowers. It aims to establish clear rules and guidelines for the operation of credit institutions, while also ensuring compliance with international standards and best practices in the financial sector.

Law on Anti-Money Laundering (No. 69/2012/QH13)
(Luật Chống rửa tiền)

Date Enacted: November 29, 2012

Individuals and Organizations Regulated: This law regulates individuals and organizations engaged in financial activities in Vietnam, including banks, financial companies, and other financial institutions.

Activities Regulated: The Law on Anti-Money Laundering sets out the requirements for preventing and detecting money laundering and terrorism financing activities in Vietnam. Financial institutions must implement anti-money laundering measures, including customer identification and due diligence, suspicious transaction reporting, and record-keeping. The law also establishes the Anti-Money Laundering Department as the country's regulatory authority for anti-money laundering activities.

Purpose of the Law: The primary purpose of this law is to prevent and combat money laundering and terrorism financing activities in Vietnam. It aims to establish a comprehensive legal framework for anti-money laundering measures in the financial sector, while also promoting international cooperation in this area.

Securities Law (No. 70/2006/QH11)
(Luật Chứng khoán)

Date Enacted: November 29, 2006

Individuals and Organizations Regulated: This law regulates securities issuers, securities trading organizations, and other entities engaged in securities-related activities in Vietnam.

Activities Regulated: The Securities Law sets out the requirements for issuing and trading securities in Vietnam, as well as the rules for disclosure, reporting, and investor protection. It also establishes the State Securities Commission as the country's regulatory authority for securities-related activities.

Purpose of the Law: The primary purpose of this law is to promote the development of a transparent and efficient securities market in Vietnam, while protecting the interests of investors and ensuring compliance with international standards and best practices in the securities industry. It aims to establish a clear legal framework for securities-related activities, while promoting the Vietnamese economy's growth.

Credit Institutions Law (No. 47/2010/QH12)
(Luật Tín dụng)

Date Enacted: June 16, 2010

Individuals and Organizations Regulated: The Credit Institutions Law regulates all credit institutions operating in Vietnam, including commercial banks, finance companies, and other institutions engaged in lending activities.

Activities Regulated: This law sets out the requirements for establishing and operating credit institutions in Vietnam, including capital requirements, licensing procedures, and reporting requirements. It also establishes the State Bank of Vietnam as the regulatory authority for credit institutions and sets out the rules for the management and supervision of credit institutions.

Purpose of the Law: The purpose of the Credit Institutions Law is to promote the stability and soundness of the banking sector in Vietnam while protecting the interests of consumers and investors. It aims to establish clear rules and guidelines for the operation of credit institutions while also ensuring compliance with international standards and best practices in the financial sector.

Foreign Exchange Ordinance (No. 28/2005/PL-UBTVQH11)
(Nghị định về ngoại tệ)

Date Enacted: December 9, 2005

Individuals and Organizations Regulated: This ordinance regulates individuals and entities engaged in foreign exchange transactions in Vietnam, including banks, exchange houses, and other financial institutions.

Activities Regulated: The Foreign Exchange Ordinance regulates the operations and activities of individuals and entities engaged in foreign exchange transactions in Vietnam, including the buying and selling of foreign currency, the transfer of funds abroad, and the opening and management of foreign currency accounts.

Purpose of the Law: The primary purpose of this ordinance is to ensure the stability of the Vietnamese economy by regulating foreign exchange transactions and preventing illicit activities such as money laundering and terrorism financing. It also aims to promote the country's efficient allocation of foreign exchange resources.

Law on Anti-Money Laundering (No. 69/2018/QH14)
(Luật Chống rửa tiền)

Date Enacted: June 8, 2018

Individuals and Organizations Regulated: This law regulates individuals and entities engaged in financial transactions in Vietnam, including banks, insurance companies, securities companies, and other financial institutions.

Activities Regulated: The Law on Anti-Money Laundering sets out the requirements for preventing and detecting money laundering and terrorism financing activities in Vietnam, including reporting suspicious transactions to the relevant authorities. It also establishes the Anti-Money Laundering Department as the country's regulatory authority for anti-money laundering activities.

Purpose of the Law: The primary purpose of this law is to prevent and combat money laundering and terrorism financing activities in Vietnam, while promoting the stability and integrity of the financial system. It aims to establish a clear legal framework for anti-money laundering activities, while also ensuring compliance with international standards and best practices in the financial sector.

Credit Institutions Law (No. 47/2010/QH12)
(Luật Tín dụng)

Date Enacted: June 16, 2010

Individuals and Organizations Regulated: This law regulates credit institutions, including banks, credit cooperatives, and other entities engaged in lending activities in Vietnam.

Activities Regulated: The Credit Institutions Law sets out the rules for the establishment and operation of credit institutions in Vietnam, including the licensing requirements, capital requirements, and reporting obligations. It also establishes the State Bank of Vietnam as the regulatory authority for the banking industry in the country.

Purpose of the Law: The primary purpose of this law is to ensure the safety and soundness of the banking industry in Vietnam, while promoting the development of a competitive and efficient credit market. It aims to establish clear rules and guidelines for the operation of credit institutions, while also protecting the interests of consumers and investors.

Foreign Exchange Management Law (No. 06/2019/QH14)
(Luật Quản lý ngoại hối)

Date Enacted: May 17, 2019

Individuals and Organizations Regulated: This law regulates individuals and entities engaged in foreign exchange activities in Vietnam, including banks, foreign exchange traders, and other financial institutions.

Activities Regulated: The Foreign Exchange Management Law sets out the rules for the management of foreign exchange activities in Vietnam, including the buying and selling of foreign currency, the transfer of funds abroad, and the opening and management of foreign currency accounts. It also establishes the State Bank of Vietnam as the regulatory authority for foreign exchange activities.

Purpose of the Law: The primary purpose of this law is to promote the stability of the Vietnamese economy by regulating foreign exchange activities and preventing illicit activities such as money laundering and terrorism financing. It also aims to promote the efficient allocation of foreign exchange resources in the country, while protecting the interests of consumers and investors.

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