Meeting of the Drafting Team for the Code of Conduct for Debt Collection

On the morning of August 22, 2025, in Ha Noi, the Vietnam Banks’ Association (VNBA) held a meeting of the Drafting Team for the Code of Conduct for Debt Collection to discuss and contribute feedback on the second draft. This marks an important step toward establishing a professional, transparent, and humane culture in the field of debt collection in Vietnam. The Code is being developed with technical assistance from the International Finance Corporation (IFC), a member of the World Bank Group.

The meeting was chaired by Dr. Nguyen Quoc Hung, Vice Chairman and Secretary General of VNBA, with the participation of representatives from numerous credit and financial institutions.

In his report at the meeting, Mr. Nguyen Hung Quang, Managing Partner of NHQuang&Associates, President of the Vietnam International Commercial Mediation Center (VICMC), and an IFC consulting expert, stated that initially, the Code was intended to apply only to consumer lending. However, after receiving hundreds of comments from more than 30 credit institutions, its scope has been expanded to cover all lending activities. The second draft has now been streamlined to 11 articles, with more concise provisions that better reflect practical realities and address existing legal gaps.

According to Mr. Quang, the Code not only clarifies existing regulations but also aims to establish professional ethical standards, thereby guiding responsible conduct in debt collection practices.

In his concluding remarks, Dr. Nguyen Quoc Hung emphasized that the Code will serve as a common standard across the industry, helping to unify conduct among credit institutions, while not replacing existing laws and regulations. Institutions may still issue their own internal rules in line with their specific characteristics and practical needs.