The Vietnam Banks Association (VNBA) was founded and officially put into operation on May 14, 1994

The Vietnam Banks Association (VNBA) was founded and officially put into operation on May 14, 1994. Ever since, with the close guidance of the CPVN Committee and leadership of the State Bank of Vietnam, the wholehearted support of the member banks and valuable assistance of the relevant authorities, VNBA has satisfactorily functioned as a link between its members and the relevant authorities; assisted and protected the legitimate interests of its members; promoted training, information and communication; and expand international cooperation. Meanwhile, it has continuously improved the organizational structure to become an ever powerful association.

     With diversified and effective activities, VNBA has actively assisted the member banks in the legal, training and information fields; promoted cooperation among member banks in order to implement the objectives of the monetary policy and the safe banking operations; and constantly expanded the relations of fine cooperation with its counterparts in the region and elsewhere; thus contributing to the promotion of the position and prestige of the Vietnamese banking industry in general and VNBA in particular. Following are the major outcomes:

1. To satisfactorily function as a link between the member banks and the relevant authorities:
    To timely disseminate all the policies, mechanism and laws on banking operations to its members;
    To make recommendations to the relevant authorities to help its members overcome difficulties with encouraging outcomes;
    To make inputs and remarks to the drafting or amendment of legal documents related to banking operations;

2. To provide coordinating support and assistance to members in their operations.
    To protect the legitimate interests of the members;
   To play a coordinating role with members in an afford against unsound competition in interest rate, thus stabilizing money and financial market;
    To coordinate with unexpectedly troubled members;
    To coordinate members in their efforts to develop bank card services (through Sub-Association of Vietnamese Payment Cards Bank) and to act as an agent and channel for VISA with member banks.

3. Training and scientific research.
   VNBA has cooperated with many agencies and experienced specialists in many fields to give lectures to trainees from member banks, namely major training courses on legal knowledge related to banking for 600 staffs from member banks in Hanoi and Hochiminh City; a workshop on electronic accounting; and implementation of decisions of the Governor of the State Bank of Vietnam … Last year, VNBA organized 5 training course for 375 staffs of member banks supported under the German Project and Luxemburg Protocol on “Project Financing, Electronic Banking, New Financial Products, Management on Assets and Liabilities… ”. VNBA has organized 18 study tours  to learn from experiences of other countries, such as: Australia, Thailand, China, Malaysia and Singapore, Taiwan, South Korea.
    In scientific research, VNBA has assigned a number of staffs to engage in several baking research projects such as organization and operations of the People’s Credit Fund, measurers to deal with deflation by demand stimulus and supply adjustment; several issues in legal proceeding of credit contracts…

4. Information and communication.
   To implement the resolution of the VNBA Council, the Financial- Monetary Market Review has improved its work to reflect banking activities tobe worthy of the reliable forum of member banks. It has timely supplied domestic and international news and experiences in banking operations to serve as a reference paper for member banks to deal with problems in their operations.

5. Expansion of International Cooperation.

   VNBA has joined the ASEAN Banker’s Association of September 8, 1995 following the admission of Vietnam to ASEAN. Up to now, VNBA has established the relations of cooperation with over 30 foreign bankers associations, many international organizations and a number of specialized financial associations. VNBA is an official member of the ASEAN Bankers’ Association, and a national representative of the APEC Financiers Group under the annual conference of APEC Finance Ministers.