Improving the law on credit institutions in accordance with the commitments under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership

Abstract

International integration in the banking sector has been seen as a task to suppport the foreign trade development as well as to contribute to the prevention and combat  of transnational monetary crimes. Thus, improving the law on credit insitutions is of significant importance. The paper analyses the commitments of Vietnam under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the requirements for organisation and operation of credit institutions. On that basis, it offers some recommendations to improve the current law of Vietnam, to ensure the internalisation of the commitments of  Vietnam as well as to speed up the process of restructuring the banking system and making the financial capacity of credit institutions healthy, and to promote banking services connected to modern technology.