Hanoi (VNA) - The State Bank of Vietnam (SBV) made an announcement on Nov. 19, stating that it is to apply international competitive bidding procedures for goods contracts for its Financial Sector Modernisation and Information Management System (FSMIMS) project. The International Development Association (IDA) has provided a credit facility of 60 million USD to support the SBV’s project. The money will be used to pay for goods and consultancy services necessary for the implementation of the project. The project consists of three primary components; the first of which is designed to modernise the SBV. It will assist the central bank in developing its policies and an institutional framework, as well as increasing capabilities for information management and informed decision-making.
It will provide key input to providing specifications of user needs and the functional requirements of a new ICT platform for information management, and design and build a centralised ICT platform that meets international IT standards to support SBV’s evolving role as a central bank, taking into account all relevant international practices and critical Vietnamese realities.
The second component focuses on strengthening the Credit Information Center (CIC) by assisting the CIC in restructuring the processes for its core business as Vietnam’s public credit registration centre, as well as acquiring and installing a centralised data management system for the collection, storage, processing, analysis and sharing of credit information.
The third component is aimed at enhancing the Deposit Insurance of Vietnam (DIV). It will assist the government-owned deposit insurance agency in re-engineering its business processes and increasing its technological capacity so that the government-owned deposit insurance agency can consolidate its role in Vietnam ’s financial sector safety network.-Enditem
Thursday, November 20, 2008
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