Vietnam to reform banking system with Canada’s help

Focus will be on modernizing the banking system and financial regulations.

Canada will also help Vietnam strengthen its banking system and financial regulations. Canadian Foreign Minister John Baird said Canada ’s assistance to Vietnam will be provided through the Banking Regulation and Supervision Support (BRASS) project, an initiative worth US$14 million.

Canada will help the State Bank of Vietnam improve and modernize the country’s banking system and financial regulations in accordance with international standards. The reforms will also improve SBV’s banking management and supervision capacity.

This should lead to the safe and effective operations of individual credit institutions and Vietnam ’s financial and banking system as a whole.