Promoting non-cash payment, digital banking, and green banking is the direction of the banking sector in the 2020-2025 tenure, State Bank Governor Le Minh Hung told a meeting in Hanoi on August 17.

Besides restructuring credit institutions, banks should increase investment in renewable energy, clean energy and less carbon consumption and production industries, he suggested.

Particularly, to support businesses affected by the COVID-19 pandemic, the sector needs to synchronise monetary, credit, interest rate, and payment tools and solutions to soon recover the economy, the  official suggested.

He noted that in the 2015-2020 period, the banking sector has adjusted monetary policies to curb inflation at a low level, while stabilising the macro economy and monetary market.

The sector also had the policy against the dollarisation in the local economy by converting foreign currency and gold into cash in service of socio-economic development, he added.