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SBV holds Workshop on Central Banking and Information System
The State Bank of Vietnam (SBV) in coordination with the Japan Research Institution and the NTT Data Group held a workshop on “Information Management System of the Bank of Japan and other countries” in Hanoi recently. The Workshop was attended by SBV Deputy Governor Nguyen Toan Thang, representatives of SBV departments, the Credit Information Center (CIC), and the Deposit Insurance of Vietnam and specialists of the Japan Research Institution and the NTT Data Group.
The Workshop focused on an overview of central banking and information system; new technology and functions of central banks in managing information system; experience and lessons in the development of financial infrastructure of Japan; organizational methodology, international standards and experience in running the information system in several countries. Importantly, the participants discussed the development of information system model in central banks, central bank data collection and the effective and safe processing and utilization of data.
Speaking at the Workshop, Deputy Governor Nguyen Toan Thang stated that in April the SBV and the World Bank (WB) signed the Financial Sector Modernization and Information Management System Project (FSMIMS) funded by the WB and the Japanese Government. The project is totally worth USD 71.830 million, of which USD 60 million is funded by the WB, USD 0.83 million is contributed by the Government of Japan from the Japan Policy and Human Resources Development (PHRD) Fund, and USD 11 million comes from the Vietnamese Government as the counterpart fund. The Project aims at developing the information management system, thereby enhancing management capacity and operational effect of the SBV, the Credit Information Center (CIC), and the Deposit Insurance of Vietnam (DIV). It is an important project which helps building a consistent management information system as an essential foundation for the SBV to further its reform, thereby contributing to the development of the Vietnamese banking sector.
In addition, the SBV Deputy Governor said that the Workshop is an opportunity for exchanging knowledge and experience in establishing and implementing the Financial Sector Modernization and Information Management System in the Bank of Japan and other countries, thereby defining the model to be applied in Vietnam in the coming time. Therefore, the Workshop is of great significance for preparing and implementing the aforesaid Project.
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