Strengthening Vietnam’s microfinance ecosystem through MSC’s regulatory roadmap for the State Bank of Vietnam

• Sep 8, 2025
• 1 min

Vietnam’s fast-growing microfinance sector needed a modern policy environment to scale responsibly and deepen outreach to low-income clients. The State Bank of Vietnam (SBV) asked MSC to chart that path.

MSC benchmarked existing laws and prudential norms against international good practice, and mapped the landscape of semi-formal and licensed MFIs. We also undertook field research to gauge the reach, cost, and quality of services for the underserved segments. We conducted capacity-building workshops in parallel to equip the SBV staff, at headquarters and regional branches, with risk-based supervision and consumer-protection tools. We developed a cost–benefit analysis of subsidized-credit programs to highlight efficiency gaps and inform evidence-based reforms.

These insights converged in a phased roadmap that clarifies licensing tiers, strengthens capital and governance standards, and embeds market-conduct supervision. The roadmap aligns oversight with market realities and positions Vietnam’s microfinance industry to expand safely, attract sustainable funding, and serve more people at the base of the pyramid.

The State Bank of Vietnam commissioned the project.