Before the August Revolution in 1945, Vietnam was a feudal-colonial country under the French colonialists’ rule. The banking and credit system was founded and protected by the French colonialists through the Indo China bank
The bank was an effective tool for the colonial policy of the French government and enriched the French capitalists. Thus, one of the key tasks of the August Revolution then, was to build an independent and autonomous monetary and banking system
On the basis of the new economic and financial policy set out in the 2nd Congress of the Vietnam Workers’ Party (February,1951), President Ho Chi Minh signed Decision 15/SL on the establishment of the Vietnam National Bank – Bank of the first people’s democratic state in Southeast Asia.
