Draft Law Amending the State Bank Law, Anti-Money Laundering Law, and Law on Credit Institutions
RegHub explainer by New MarketerLast updated:
Based on:National Assembly - Draft laws
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The Government is submitting to the National Assembly a draft law amending and supplementing several provisions of three key financial and banking laws: the State Bank of Vietnam Law No. 46/2010/QH12, the Anti-Money Laundering Law No. 14/2022/QH15, and the Law on Credit Institutions No. 32/2024/QH15. The draft is expected to be reviewed and passed at the First Extraordinary Session of the 16th National Assembly. At this stage, only the draft title and procedural metadata (submitting authority, expected passage session) are publicly available; the detailed text of the proposed amendments has not yet been released. Because it touches three foundational laws governing the banking system and anti-money laundering framework, the amendments could affect credit institutions, commercial banks, finance companies, and businesses that transact through the banking system, particularly around anti-money laundering compliance requirements (KYC, suspicious transaction reporting). Businesses, especially credit institutions, fintech companies, and foreign-invested enterprises operating in the financial sector, should monitor this draft closely as it progresses. RegHub will provide a full update once detailed provisions or the final enacted text become available.
Overview
The Government has submitted to the National Assembly a draft law amending and supplementing provisions of:
- State Bank of Vietnam Law No. 46/2010/QH12
- Anti-Money Laundering Law No. 14/2022/QH15
- Law on Credit Institutions No. 32/2024/QH15
Procedural Details
- Submitting authority: The Government
- Expected passage: First Extraordinary Session, 16th National Assembly
Content Status
At the time of this record, the draft-law portal has published only the title and procedural metadata of the bill; the detailed text of the proposed amendments is not yet public. As a result, the specific scope and impact on each affected group cannot yet be assessed.
Why This Matters for Businesses
The three laws proposed for amendment are pillar statutes of Vietnam's financial and banking legal framework:
- State Bank of Vietnam Law: governs the functions, duties, and powers of the State Bank in monetary policy administration and banking system safety supervision.
- Anti-Money Laundering Law: sets out know-your-customer (KYC) obligations, suspicious transaction reporting, and large-value transaction reporting requirements for financial institutions and certain related non-financial sectors.
- Law on Credit Institutions: governs the organization, operation, and risk management of commercial banks, finance companies, and non-bank credit institutions.
Any amendment to these laws could have a cascading effect on credit institutions' compliance procedures, as well as on the reporting and disclosure obligations of businesses transacting through the banking system.
Recommendations
Businesses in the financial, banking, and fintech sectors should:
- Monitor the draft's progress through National Assembly discussion and passage
- Prepare to review existing anti-money laundering compliance procedures
- Wait for the official enacted text before assessing specific impact
RegHub will update this article or publish a follow-up once detailed draft provisions or the final official law text become available.