KPMG hosts seminars to discuss State Bank of Vietnam's Circular 13

KPMG speakers at the seminars

The two seminars by KPMG took place on July 18 in Hanoi and July 20 in Ho Chi Minh City, as more than 260 senior executives from over 36 local banks and foreign bank branches in Vietnam gathered to discuss Circular 13 and Risk Management Practice.

This seminars were a part of KPMG-run programmes to increase support for Basel II for Vietnam's banking industry. The keynote speakers were Amitava Mukherjee, director of Risk Consulting, KPMG Asia Pacific Area and Pham Do Nhat Vinh, associate director and head of FS Risk Consulting, KPMG Vietnam & Cambodia.

The seminars also welcomed representatives from the State Bank of Vietnam, who talked about requirements of Circular 13, one of the laws aiming to change the quality of bank management in Vietnam.

In his opening remarks, Tran Dinh Vinh, partner of KPMG Vietnam, highlighted that banks should apply Circular 13 strictly in practice, not only for the purpose of complying with regulations on risk management and internal control, but also for the aim of value enhancement and sustainable development of banks.

Participants at the seminars

"KPMG is always ready to go along with banks in the process of implementing and transforming in accordance with the requirements of this circular," said Vinh.

According to this, KPMG commits to continuously discussing and establishing opportunities to support banks to implement Circular 13 effectively.

During the speeches, KPMG experts shared their own perspectives, challenges and experiences in implementing Circular 13 in Vietnam and other countries in the region.

The subsequent Q&A session welcomed questions related to Circular 13, including timeline of implementation, the appropriate level when applying the circular of each bank and bank-specific challenges.

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