Hanoi: Lawmakers on August 9 discussed a draft law amending and supplementing a number of articles of the Law on the State Bank of Vietnam, the Law on Anti-Money Laundering, and the Law on Credit Institutions, focusing on strengthening safeguards for the banking system and establishing a sound legal framework for emerging financial activities. The discussion took place during the first extraordinary session of the 16th NA, chaired by NA Chairman Tran Thanh Man.

According to Vietnam News Agency, the proposed amendments aim to enhance the security and stability of Vietnam's banking system by addressing potential vulnerabilities and adapting to the rapidly evolving landscape of digital finance. Lawmakers emphasized the importance of modernizing existing regulations to accommodate new technological advancements while ensuring robust protection against financial crimes such as money laundering.

The meeting also highlighted the necessity of supporting the digital economy, which is increasingly becoming a vital component of the country's economic growth. By revising these laws, the government seeks to create a conducive environment for financial innovations, encouraging the development of digital banking, fintech solutions, and other digital financial services. This is seen as a crucial step in maintaining economic stability and promoting sustainable growth in the digital era.