Rules for National Financial Supervision Committee Launched
Vietnam’s National Financial Supervisory Committee has got approval from the prime minister to hire foreign consultants or auditors to support its operations.
The committee, chaired by former Governor of the State Bank of Vietnam Le Duc Thuy, was established in March last year, but rules for its organization and operations had been issued under a decision signed by the PM early this week.
Under the decision effective from July 10, the committee will supervise the licensing of credit institutions, financial institutions, and others active in the banking, securities, and insurance sectors.
The committee will also monitor application of international standards for financial supervision, and the national financial markets and operations of finance groups.
This independent committee will not act on behalf of the existing relevant authorities. (Vietnam Financial Times)
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