Banks requested to ensure cash collection and payment in response to storms and floods

Friday, 2021-09-24 10:43:23
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Banks requested to ensure cash collection and payment in response to storms and floods
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NDO - Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has just issued a document requesting its subordinate units and credit institutions to proactively take measures to remain ready for natural disaster response, particularly the risk of flash floods and landslides in mountainous areas, and storms and floods in the central region.

Accordingly, the above-mentioned units were asked to thoroughly grasp and implement the Prime Minister’s dispatch No.1107/CD-TTg, dated August 31, 2021, on actively responding to natural disasters, ensuring property safety, and minimising losses due to storms and floods.

They must also keep a close watch on weather developments forecast by the National Centre for Hydro-meteorological Forecasting’s weather in order to make response plans for different types and levels of disasters and emergencies that might occur in or around their areas, particularly prolonged heavy rain, storms, landslides and large-scale flash floods, in order to ensure the safety of bank vaults, information and communication technology (ICT) systems, and other properties.

It is necessary to prepare personnel and prompt actions to prevent loss, humidity, dampness and other issues to ensure the quality of money and assets being preserved in vaults.

Regarding units operating in payment and information technology, they were requested to strengthen coordination with functional agencies to ensure the security and safety of the national payment system, the financial switching system, and electronic payment infrastructure as well as cash transactions and cash collection and payment of State-owned banks and credit institutions.

The SBV Governor also ordered State Bank branches in cities and provinces to closely coordinate with local functional agencies in dealing with any disasters and overcome consequences of natural disasters while ensuring cash collection and payment in the localities.