Vietnam in bid to create fintech sandbox in banking sector

E-wallet MoMo has developed strongly in Vietnam, especially during the pandemic. — Courtesy of MoMo

HANOI (Vietnam News/Asia News Network): The Government has issued a resolution to create a sandbox for financial technology (fintech) in the country’s banking sector.

According to the resolution, the Government assigned the State Bank of Vietnam(SBV) to coordinate with ministries and agencies to form a decree that complies with the provisions of the Law on Promulgation of Legal Documents amended and supplemented in 2020 to submit to the Government in the fourth quarter of 2021.