The Politburo has decided to issue disciplinary warning to Nguyen Van Binh, Politburo member, Head of the Party Central Committee’s Economic Commission, for his violations during the time he served as Governor of the State Bank of Viet Nam (SBV) from 2011 to 2016. 

Nguyen Van Binh, Head of the Party Central Committee's Economic Commission.

The decision was made on Saturday at the Politburo’s meeting chaired by Party General Secretary, State President Nguyen Phu Trong.

The Politburo found that as the SBV Governor, Binh had to bear responsibility for the SBV’s issuance of documents that did follow the Government’s regulations, resulting in violations and wrongdoings in handling bad debts, which led to State budget revenue loss.

He broke the rules when signing a resolution allowing Construction Bank to receive a zero-interest loan without any guaranteed assets.

Binh was also responsible for the SBV’s violations and wrongdoings in permitting the Thien Thanh Group to buy stakes in Dai Tin Bank, approving Pham Cong Danh to be the scheduled member of the Construction Bank’s Board of Directors, and failing to impose special control of the Construction Bank.

He was found to have violated the democratic centralism and working regulations when failing to report major issues to competent authorities. He did not report to the Prime Minister and implement the Prime Minister’s directions on the compulsory purchase of three banks at zero dong, thus violating the competence principle.

He must bear the responsibility for violations and shortcomings at the SBV and other credit organizations that led to many individuals facing criminal charges.

Binh’s violations and shortcomings are serious, causing public concern, badly affecting the prestige of the Party, the SBV and himself, the Politburo said.

Binh, aged 59, is native of Phu Tho Province. He began to work for the SBV since 1986.

He was promoted to the role as SBV Deputy Governor in 2008 and appointed the SBV Governor in August 2011.

Since April 2016, the Politburo assigned Binh to undertake the role as Head of the Party Central Committee's Economic Commission./.

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