Below is a summary of 5 important documents in the monetary and banking sector that officially take effect from July 2025:
Decree 94/2025/ND-CP on Fintech testing mechanism
The Government issued Decree 94/2025/ND-CP dated April 29, 2025 stipulating a controlled testing mechanism in the banking sector, applicable from July 1, 2025. Article 8 of this Decree stipulates the conditions and criteria for credit institutions, foreign bank branches, and Fintech companies to participate in the trial, with the following requirements: the solution must be innovative, have added value, a complete and feasible risk management framework to supply to the market after the trial, and Fintech companies must be legal entities, managers with at least 2 years of experience, and have sufficient professional capacity.
Circular 06/2025/TT-NHNN amending the principles of payment agency activities
This Circular amends Clause 7, Article 7 of Circular 07/2024/TT-NHNN on payment agency activities. Accordingly, the agency assigning the agent is allowed to sign a payment agent contract with other organizations, provided that the number of payment agents at the commune level (excluding wards) accounts for over 70% of the total number of agents in the area. Circular 06 takes effect from July 1, 2025.
Decision 2262/QD-NHNN on procedures for registering accounts to access the foreign debt management and payment system not guaranteed by the Government
The decision stipulates in detail the procedures for registering for an account to access the Foreign Loan Management and repayment website; documents, payment methods (in person, by post, online), and the processing time is 3 working days. This regulation applies to borrowers and related authorities. Effective from July 1, 2025.
Circular 08/2025/TT-NHNN amending the authority of the Director of the State Bank of Vietnam Branch
This Circular amends the provisions in Circular 43/2015/TT-NHNN, Circular 29/2024/TT-NHNN, Circular 32/2024/TT-NHNN, specifically empowering the Director of the State Bank of Vietnam, provincial and municipal branches to approve or not approve the termination of operations, confirm the eligibility for operation, or force the termination of operations of the post office transaction office under Lien Viet Post Joint Stock Commercial Bank. Effective from July 1, 2025.
Decree 156/2025/ND-CP amending agricultural and rural credit policies
This Decree amends Decree 55/2015/ND-CP (amended by Decree 116/2018/ND-CP), allowing credit institutions to restructure debt repayment terms, maintain debt groups with loans affected by natural disasters, epidemics, and force majeure causes; at the same time, detailing the maximum debt suspension mechanism of 2-3 years, the state budget process for compensation for credit institutions when debt has been resolved to customers. Effective from July 1, 2025.
The above 5 documents cover key contents: Fintech testing, payment agency activities, foreign debt management account registration, possession and management authority of post offices, credit mechanisms for rural agriculture... will have a great impact on banking and financial activities in the coming time.
