The State Bank of Vietnam (SBV) and the Ministry of Finance (MOF) are the regulators responsible for the authorization and supervision of banks, insurers and other financial institutions in Vietnam. The allocation of responsibilities between the SBV and the MOF is as follows:

• The SBV regulates banks and other credit institutions (i.e., finance companies, financial leasing companies, other non-bank credit institutions, microfinance institutions and People’s Credit Funds). The SBV (through its headquarters in Hanoi and its network of provincial branches) performs the traditional role of a central bank and regulates the banking system in Vietnam, that is, it is in charge of granting licenses for the establishment and operation of banks in Vietnam, issuing guidance for banking activities, and supervising the banking system.
• The MOF regulates insurance companies, securities companies and fund management companies. The State Securities Commission (SSC), an organization under the MOF, regulates all Vietnam's securities activities.

Regarding anti-money laundering (AML), under the AML laws, the SBV is under a general duty of implementing State management on AML. The SBV is specifically in charge of, among others, inspecting and supervising AML activities of reporting entities subject to State management on currency, banking and foreign exchange activities. The MOF is in charge of, among others, inspecting and supervising AML activities of reporting entities subject to the State management on insurance business and securities. The SBV/MOF has the power to handle or propose to competent authorities the handling of breaches against the laws on AML.