The Vietnamese Dong has been devalued over five times since 2014, however, 2016 marks the 65th anniversary of their modern banking sector, started on May 6, 1951.
By: Nick Giammarino
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On April 4th, 2016, the State Bank of Vietnam (SBV) announced a new souvenir banknote will be issued. The note will be released as a 100 Vietnamese Dong denomination. The occasion is the
65th Anniversary of Banking Sector which began on May 6, 1951.
The Deputy Governor of the SBV Dao Minh Tu attended and chaired the press conference. The banknotes will be sold for VND 20,000 ($0.90) per single note, and VND 25,000 ($1.12) per note wrapped in a folder with a bilingual caption.
These numismatic banknotes cannot be used for public circulation.
Front banknote details:
- Size: 83MM x 163MM
- Printed on high-quality, cotton paper
- Banknote main color is red
- Written in Vietnamese is “The State Bank of Vietnam”, “the 65th Anniversary of Banking Sector” with the years of 1951- 2016 representing the 65 year anniversary
- The Denomination 100 VND is written in words and in numbers;
- The Vietnamese emblem
- Portrait of former President Ho Chi Minh
- The Signature of SBV Governor Nguyen Van Binh is written above the serial numbers on the left front of the banknote
Reverse banknote details:
- Written in Vietnamese is “The State Bank of Vietnam”
- Denomination 100 VND written in both words and numbers
- The image of the SBV (State Bank of Vietnam) building is displayed in large detail
- Thanh Giong (Saint Giong), a mythical folk hero; A stylized depiction of the currency used in ancient Vietnam representing the nation’s monetary sovereignty; and the patterns found on Ngoc Lu Bronze Drum; the sky and dragon are painted as decoration features in both front and back sides.
For the 65th anniversary of Banking Sector, the SBV issues the note as a souvenir to promote the iconic features of both Vietnam and its history,
The SBV, concurrently, also takes this occasion to introduce their progress of technical application in currency printing.
The souvenir banknotes were manufactured by National Banknote Printing Plant under the sponsorship of international partners including France, Switzerland, Sweden, and Germany for paper, ink and security equipment.
The banknote also includes motifs from the Ngoc Lu bronze drum, clouds, dragons, and the shadow images of a lotus and the number 65 as security features.
The State Bank of Vietnam, preceded by the National Bank of Vietnam, was established in 1951 under Decree 15/SL signed by President Ho Chi Minh.
Translated Press Release:
PRESS RELEASE – Mass Rally Marks 65th Anniversary of Vietnam’s Banking Sector
(Note, this press release was auto-translated from the SBV website)
April 26, 2016, in Hanoi, Vietnam’s banking sector rally celebrated its 65th founding anniversary of Vietnam’s banking sector (05.06.1951 – 06.05.2016) and received Order Ho Chi Minh chapter 3rd.
A mass rally marking the 65th Anniversary of Vietnam’s banking sector took place in the air celebrating 41 years of liberation of the South’s reunification. Vibrant country emulation celebrate the outstanding achievements of the Congress succesful participants of the XII National Party election preparations Lock XIV Congress, the people’s Council at all levels for the 2016-2021 period.
This is an opportunity for all officers and employees of the banking sector over the period look back on the way over, review of industry heroic tradition, pride and honor outstanding achievements in operations banks over time history and look to the future together.
Attending Mass rally 65th Anniversary banking sector were Mr. Nguyen Xuan Phuc – Member of the Political Bureau, the Prime Minister; Mr. Nguyen Van Binh – Member of the Political Bureau and head of the Central Economic Committee; former comrades Party, State; representatives of the Board, Ministries central and local level; Secretary, Chairman of Ha Noi and HCM City; Leadership comrades banking sector over the period; financial institutions, international currency; the management body press, the delegates, and all officers and employees of the banking industry …
At Mass rally, in addition to the photo exhibition on banking activities through periods also show excellent art film screenings combined history of 65 years of banking industry. The program consists of 4 chapters art depicting historical comprehensive picture currency Vietnam with precious documentary about the early days of regained independence, the nascent government of Vietnam to the Democratic Republic face numerous difficulties, but with much beloved, absolute confidence in the leadership of President Ho Chi Minh, and people have united to devote his personal wealth for the prosperity of the nation.
It is from there, was cash flow patriotism originates from there. Until the late President Ho Chi Minh signed Decree No. 15 / SL founded the National Bank of Vietnam on 06/05/1951 – predecessor of the State Bank of Vietnam today – opened an era calendar used for the development of an independent currency. The introduction of the National Bank of Vietnam marked the maturation of Vietnam’s banking sector since the successful August Revolution, the first time, our country has been an independent bank, government autonomy people; also from here, Vietnam banking system is organized in large-scale, operating under the principles of centralization and uniformity, plays a pivotal role in the financial system – the currency of the country.
Experiencing 65 years of construction, consolidation, development, innovation and integration, Vietnam’s banking sector has been constantly growing, there are steps boom contributed to the positive changes in the field of fact, contribute greatly to the struggle for national independence, reunification and construction, development and national defense. Especially in the last 5 years, State Bank of Vietnam has made fundamental innovations in building mechanisms and policies, guidance and management, implementation of monetary policy; thereby, banking activities continue to affirm an important role in managing macro-economic policy of the Government, creating the foundation for the development orientation of the banking system stable, healthy, physically competitive, efficient capital channel is in the process of restructuring, transformation of economic growth model of the country.
Noting the achievements and great contribution of the banking sector in the national defense industry, construction and development of the country, the Party and State Bank branch was awarded the Gold Star Medal in 2006, the Order of Ho 1st Chi Minh City in 1996, Ho Chi Minh Medal 2nd 2011; 3 unit was awarded the title Hero of the People’s Armed Forces; 12 units in the State sector awarded the title of Labour Hero reform era, hundreds of units, thousands of bank staff and the State Party awarded many other noble titles.
Also in celebration of 65 years of establishment, the banking industry honored and proud to be the Party and State awarded the Order of Ho Chi Minh 3rd under Decision 756 / QD-CTN of the President dated 13/4 / 2016 on the award of Ho Chi Minh Medal for State Bank had great merits, there are many outstanding achievements, contributions to the revolutionary cause of the Party and the nation.
Speaking at the ceremony, the Governor of the State Bank of Vietnam Le Minh Hung affirmed that the achievements gained in the banking industry 65 years thanks to the leadership of the Party, the attention, steering Congress and the close of the Government, is the sacrifice, loss, energy, wisdom of generations of leaders, officials and public servants throughout the industry, striving to overcome many hardships, challenges knowledge of the veteran revolutionary comrades and layer the previous generation; coordination, support and contributions of all levels and sectors of society and international friends.
About orientation activities in the coming period, implementation of Resolution Congress XII th National Party’s economic development strategy – social period 2011 – 2020 and Directive No. 22 / CT-TTg dated 08.05.2014 of the Prime Minister, the banking industry has developed the content of the monetary and banking in the action plan of the Government period 2016-2020 and is currently building banking sector development Strategy Vietnam goods in 2025, with a vision to 2030.
In the short term, in the period from 2016 to 2020, the central bank will continue to lead and direct the implementation of a flexible monetary policy, closely in order to stabilize currency values and contribute to macro-economic stability, control inflation and support economic growth at a reasonable level.
Sustainable; complete the legal framework for monetary operations, banking, ensure synchronization with the legal system in general, consistent with the commitments and international practice; continued implementation of the scheme to restructure the system of credit institutions (CIs).
— GlobalCurrencyReset (@globalresetguy) May 23, 2016
Schemes, including bad debts, raise the effectiveness and efficiency of the inspection and supervision of banks, security system; strengthen and expand international cooperation in the field of monetary banking performed well as represent and improve Vietnam’s position in the financial institution of international monetary, proactive and actively participate in the process of international integration in the region and the world; organizational strengthening Party building in the sector through capacity building leadership and fighting capacity of the party organization, as pioneers, exemplary of cadres and Party members, leadership focus completely the tasks of political, industry expertise, contributing to successful implementation of the Resolution of the XII Congress of the Party.
Looking back on the development path of the industry, with full awareness of its achievements in the past 65 years and the task in the coming period, all officers, servants and employees in the banking sector will continue to unite as one hearts under the Party’s leadership, creativity, eager to emulate and strive to complete all outstanding tasks the Party, State and people entrusted, worthy successor to the tradition of industry, continue to put the glorious histories, the country contributed to successfully implement the goal of “rich people, strong country, democratic, fair and civilized”.
THE BANK OF VIET NAM
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