Solutions for developing e-banking services at the Bank for Foreign Trade of Vietnam

into a unified block, strengthening the strength of the entire system, making the efficiency of electronic banking services in Vietnam reach the highest level.

The State Bank needs to regularly organize seminars, workshops or training courses for banks in implementing e-banking services. This is also an opportunity for domestic banks to exchange experiences with each other and draw lessons for themselves to avoid the mistakes that other banks have encountered.

The State Bank must create conditions for domestic banks to cooperate with foreign banks to learn from their experiences. In addition, it must create conditions for bank officials to go abroad to learn from the experiences of countries that have had success in implementing this service.

Finally, the State Bank must be the agency that directly supervises and inspects violations by banks in the process of implementing e-banking. Only then can the State Bank promptly correct the mistakes made by domestic commercial banks, preventing other banks from making the same mistakes. In addition, it must always encourage and motivate banks to overcome all difficulties and successfully implement this relatively new type of service.

3. Solutions for the Government

Maybe you are interested!

In all fields, the guidance from the State leaders is always the compass for all actions to develop businesses in the right direction, especially in the period when Vietnam is implementing innovation for development and international integration. As we have analyzed above, although Vietnam's legal environment has had significant improvements in recent times, it has generally not met the requirements for the development of e-banking in the coming time. Therefore, in order to create conditions for e-commerce in general and e-banking in particular to develop, the Government and the National Assembly need to issue documents, decrees, policies, directions, and specific measures for this service.

As we know, the legal environment of information technology activities, online activities and commercial activities raises many issues that need to be resolved: recognizing the legality of e-commerce; recognizing the legality of electronic signatures; legal protection of e-commerce contracts; legal protection of electronic payments; legal regulations for data originating from state agencies, local authorities, state-owned enterprises; legal protection of intellectual property; protection of privacy; Legal protection for information networks, preventing criminals from intruding with illegal purposes such as collecting confidential information, changing information on websites, infiltrating data, copying software, transmitting destructive viruses... In reality, we have had a number of legal documents related to e-commerce such as the decision to allow the banking sector to use electronic documents in accounting and payment, electronic signatures... However, these documents are still sketchy, not creating a complete legal framework for e-commerce.

With the above mentioned huge legal challenges, how will Vietnam build a legal framework for e-commerce and e-banking? Perhaps referring to international experiences and applying them to Vietnamese conditions is a reasonable approach to solve this problem.

Currently, there are two main approaches to the legal framework for e-commerce in the world. The first is to develop and promulgate one or several laws on issues related to e-commerce. The second is to amend and supplement all legal documents regulating commercial relations to suit e-commerce. The choice of which approach will depend on the specific circumstances and conditions of each country.

Vietnam's practice related to choosing construction solutions

The legal framework on e-commerce has the following characteristics:

Firstly , our commercial legal system is still incomplete, not strict and has low enforcement effectiveness, and needs to be continuously supplemented and amended, even when there are no completely new issues such as e-commerce.

Second , Vietnam's legislative activities are characterized by the fact that for new and underdeveloped social relations, we do not immediately regulate them by law but only issue ordinances or decrees. The important reason for this fact is that the procedure for drafting and issuing ordinances or decrees is often much simpler than the procedure for issuing laws. That procedure allows us to save drafting time and promptly meet the urgent demands of life. On the other hand, if laws are issued, they can only be implemented in practice after there are sub-law documents guiding their implementation.

With the above characteristics of the legal system and legislative activities in Vietnam, should we apply both approaches to building a legal framework for e-commerce in the world? On the one hand, the immediate promulgation of legal documents, for example, a Government decree, is very necessary to meet the immediate needs of developing e-commerce in general and e-banking in particular. The content of this document must address a number of urgent and general issues such as the concepts of e-commerce, e-banking, the Government's e-commerce and e-banking policies and the responsibilities of relevant state agencies in contributing to the construction and development of e-commerce and e-banking in Vietnam. On the other hand, we also need a more long-term and comprehensive approach towards amending and supplementing all legal documents regulating other related fields such as contract law, intellectual property law, tax law, and criminal law.

Along with the issuance of legal documents, the Prime Minister must always pay attention to and closely direct the banking sector in the process of implementing e-banking services, while creating conditions for some banks that do not have sufficient financial capacity to borrow capital to modernize the banking system based on the

development of information technology. Only then will Vietnamese commercial banks have the conditions to expand and develop electronic banking services in line with the country's economic development.

CONCLUDE

Promoting e-banking is a common trend of the world on the path of developing a knowledge-based economy and moving towards an information society. Accepting e-banking is a voluntary commitment, based on understanding and a high determination to integrate and develop with the world and the region in the context of globalization and trade liberalization that are taking place extremely vigorously.

In the process of industrialization and modernization of the country, integration brings both opportunities and challenges, but the biggest challenge will be not participating at all. Electronic banking is essentially a new economic activity, extremely dynamic, using the most modern tools to collect, process and transmit large amounts of information to make quick and accurate decisions. If you do not participate in these activities, the risk of falling behind and dependence on foreign countries will increase.

In Vietnam, specifically at the Bank for Foreign Trade of Vietnam, e-banking is still in its early stages of development. There are still many difficulties and challenges to overcome, but the development of this new type of service is the right direction, an inevitable trend for Vietnamese commercial banks in general and Vietcombank in particular. Not only does it contribute to promoting the industrialization and modernization of the Vietnamese banking industry, but it also helps Vietnam integrate firmly into the regional and world economy. Therefore, from now on, Vietnamese banks, including the Bank for Foreign Trade of Vietnam, must consider and propose appropriate strategies and roadmaps to successfully deploy e-banking services in Vietnam. Only then can Vietnamese banks increase their competitiveness with foreign banks in the context of Vietnam's international and regional integration.

Although I have tried my best, because the topic is quite new and difficult, it is inevitable that there will be shortcomings. I look forward to receiving your comments.

contributions from teachers and readers so that I can complete this topic

more. I sincerely thank you.

REFERENCES

1. Books

1999

- E-commerce, Ministry of Commerce, Statistical Publishing House, year

- Success thanks to the Internet, author group Elicom, Hanoi publishing house,

year 2000

2. Legal documents

a. Legal documents regulating the internet

- Decree of the Government No. 21/CP dated March 5, 1997 on promulgating "Temporary regulations on management, establishment and use of INTERNET in Vietnam"

- Decision No. 1110/BC dated May 21, 1997 on granting license to provide

information on the Internet

- Joint Circular of the General Department of Posts - Ministry of Home Affairs - Ministry of Culture and Information No. 08/TTLT dated May 24, 1997 guiding the licensing of connection, provision and use of the Internet in Vietnam.

- Decision of the Minister of Home Affairs No. 848/QD-BNV(A11) dated October 2, 1997 promulgating regulations on measures and equipment for inspection and control to ensure national security in Internet activities in Vietnam.

- Decision of the General Director of the General Department of Posts No. 679/1997/QD-TCBD dated November 14, 1997 on promulgating Internet service regulations.

b . Regulatory documents on electronic payments

- Decree 91-CP dated November 25, 1993 of the Government on the organization of inspection

cashless payment

- Circular No. 08/TT-NH2 dated June 2, 1994 of the State Bank guiding the implementation of non-cash payment regulations.

- Decision No. 308-QD/NH2 dated September 16, 1997 of the Governor of the State Bank promulgating regulations on the establishment, use, control, processing, preservation and storage of electronic documents of banks and credit institutions.

- Decision No. 353-1997/QD/NHNN2 dated October 22, 1997 of the Governor of the State Bank promulgating regulations on electronic money transfer.

- Decision No. 469/1998/QD-NHNN2 dated December 31, 1998 on promulgating the technical process of electronic money transfer in the State Bank system.

- Decision No. 56/1999/QD-NHNN2 dated February 12, 1999 promulgating regulations on the establishment, issuance, use and management of security codes in electronic money transfer payments of the State Bank.

- Decision No. 371/1999/QD-NHNN1 dated October 19, 1999 promulgating regulations on issuance, use and payment of bank cards.

- Decision 44/QD/TTg dated March 21, 2002 on the use of electronic documents as accounting documents for accounting and payment of capital of banks and other organizations performing payment services.

- Decision No. 52/QD/NHNT/QLT dated April 1, 2002 of the General Director of the Bank for Foreign Trade of Vietnam on promulgating "Guidelines for the process of issuing, using and paying ATM cards"

3. Newspapers and magazines

- Banking Magazine, special issue 2003 on Foreign Trade Bank

Vietnam

- Banking Magazine No. 5, 2002, No. 4, 11, 2003

- Journal of Banking Science and Training No. 1, 4, 2003

- Banking Informatics Magazine No. 4, 2003

- Vietnam Foreign Trade Bank Magazine No. 6, 7, 2002

- Financial and Monetary Market Magazine No. 8, 10, 14, 16, 2003

- Information Technology and Life Magazine No. 4, 5, 6, 2003

- Banking Times No. 3, 61, 66, 2003

4. Internal documents

- History of Bank for Foreign Trade of Vietnam