Deputy Prime Minister Le Minh Khai signed Decision No. 257 promulgating the Plan for implementing the Law on Credit Institutions No. 32/2024/QH15. Accordingly, in the first and second quarters of 2024 and the following years, the State Bank will take the lead in organizing the dissemination of the provisions of the Law.

In 2024 and the following years, the State Bank, Ministries, ministerial-level agencies, People's Committees of provinces and centrally-run cities; Media and press agencies shall post the full text of the Law and detailed regulations on the Electronic Information Portal/Page, and the National Database of Legal Documents.

Compile documents to disseminate the Law and coordinate with the Ministry of Justice to update them on the National Legal Education and Dissemination Portal; organize the dissemination of the Law and documents detailing a number of articles of the Law on mass media and other appropriate forms of dissemination and propaganda.

In April 2024, the State Bank shall preside over the review of legal documents related to the Law under its authority; promptly amend, supplement, replace, abolish or issue new legal documents to ensure compliance with the provisions of the Law and detailed documents under the Law.

The State Bank and the Ministry of Finance shall preside over and coordinate with the Ministry of Justice, the Government Office, ministries, branches and localities to develop, submit to the Government for promulgation and promulgate under their authority documents detailing the implementation of the Law according to the List and schedule specified in the Prime Minister's Decision on promulgating the List and assigning agencies to preside over drafting documents detailing the implementation of laws and resolutions passed by the 15th National Assembly at the 5th Extraordinary Session (drafted by the Ministry of Justice).

The Government requested the State Bank and ministries and branches such as the Ministry of Finance, Ministry of Labor - Invalids and Social Affairs, Ministry of Natural Resources and Environment, Ministry of Justice... to review, develop and submit to competent authorities for promulgation of documents, ensuring the Law on Credit Institutions takes effect from July 1.

Previously, the Law on Credit Institutions was passed by the 15th National Assembly at the 5th Extraordinary Session, effective from July 1, with some provisions taking effect from January 1, 2025.

Changes related to cross-ownership, control of credit institutions; early intervention in weak credit institutions and handling of collateral assets... will have the greatest impact on the operations of listed banks .