The system of people's credit funds in Hanoi will be reorganized.

NHNN Khu vực 1 tổ chức Tọa đàm góp ý dự thảo Đề án sắp xếp lại hệ thống QTDND

Ms. Nguyen Thi Hoa, Director of the State Bank of Vietnam Region 1, chaired the seminar.

Attending the seminar were representatives from the Department of System Safety of Credit Institutions, the Department of Management and Supervision of Credit Institutions of the State Bank of Vietnam, the Hanoi Department of Finance, the Association of People's Credit Funds, the Cooperative Bank, the Deposit Insurance Corporation, people's credit funds, and the Board of Directors, leaders, and officials of units under the State Bank of Vietnam Region 1.

In her opening remarks, the Director of the State Bank of Vietnam, Region 1, Nguyen Thi Hoa, emphasized that after Hanoi's reorganization of commune-level administrative units, reviewing, rearranging, and reorganizing the people's credit fund system in the city is an urgent requirement. This aims to reorient the people's credit funds in a suitable direction, enhancing the effectiveness, efficiency, and core capabilities of the people's credit fund system in the new context. Based on this, the State Bank of Vietnam, Region 1, has developed a draft plan for reorganizing the people's credit fund system after the adjustment of commune-level administrative units in Hanoi. The draft has been reviewed and revised by relevant agencies. In order to further refine the Project and ensure its feasibility during implementation, on December 12th, the State Bank of Vietnam Region 1 organized a second consultation seminar to gather feedback from agencies, units, and people's credit funds for exchange, discussion, critique, and proposal of solutions.

Scene from the seminar

At the seminar, representatives from the Department of Management and Supervision of Non-Bank Credit Institutions, Microfinance Institutions and People's Credit Funds of the State Bank of Vietnam Region 1 (Department of Management and Supervision 2) presented the draft content, focusing on clarifying the necessity of restructuring the people's credit fund system; the plan for handling operating areas; solutions for consolidation/merger, dissolution, and bankruptcy; the implementation roadmap; the responsibilities of relevant agencies and units; and some recommendations to ensure the effective implementation of the Project.

The opinions expressed at the seminar unanimously agreed that restructuring the people's credit fund system is an inevitable trend, in line with practical requirements. Delegates also acknowledged and highly appreciated the proactive and pioneering role of the State Bank of Vietnam's Regional Branch 1 in developing the plan. Many delegates expressed strong agreement with the restructuring policy, considering it both a challenge and an opportunity for people's credit funds to comprehensively restructure, improve their financial capacity, expand their scale and scope of operations, and contribute to building a safer, more efficient, and sustainably developing people's credit fund system.

Delegates exchanged and contributed opinions on the draft plan for reorganizing the system of People's Credit Funds after the adjustment of commune-level administrative units in Hanoi city.

In addition, delegates frankly exchanged views and contributed many heartfelt and responsible opinions, focusing on improving the legal framework; the plan and roadmap for restructuring the people's credit fund system; the difficulties and challenges in the implementation process; and proposing solutions and coordination mechanisms to implement the Project in a synchronized and effective manner.

In her concluding remarks at the seminar, Ms. Nguyen Thi Hoa, Director of the State Bank of Vietnam Region 1, thanked the agencies, units, and people's credit funds for their valuable and highly professional contributions. The State Bank of Vietnam Region 1 will incorporate these suggestions to further refine the Project, and hopes that relevant agencies will continue to cooperate, coordinate, and support the State Bank of Vietnam Region 1 in its implementation in the future.

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