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50 SBV units allowed to join Inter- Bank Payment System
The Governor of the State Bank of Vietnam (SBV) issued Decision No.2934/QĐ-NHNN on December 1st to allow 50 SBV units to join the Inter- Bank Payment System.
This decision is another step after the announcement of the decision on November 18 to operate the Expanded Inter- Bank Payment System (the second phase) in place of the First Inter- Bank Payment System (the first phase) which constituted 7 payment units including 5 SBV branches.
The new participants of the Expanded Inter- Bank Payment System are the SBV Accounting and Finance Department, the SBV Representative Office in HCMC and 48 municipal and provincial SBV branches. All the provincial payment centers in the first phase will be upgraded to become the regional payment centers in the second phase.
The new decision has extended the payment network nationwide, linking the inter-bank payment system with 63 municipal and provincial SBV branches, all the credit institutions, the bankcard clearing and stock custodian centers, etc. Thanks to this system, the SBV will centrally manage both high and low value payment system and improve the payment quality and capital flow for the economy.
The account opening, book entry and final accounting of the participants should be in compliance with Official Letter No. 876/CV-KTTC6 of the SBV Governor on June 28, 2002.
D.H
SBV
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