Gov’t raises depositor compensation Business

Gov’t raises depositor compensation

The maximum insurance payable to a depositor for all deposits in an insured organisation will be raised to 75 million VND (3,289 USD) from 50 million VND with effect from August 5.

Banking Supervision Agency to be upgraded

The Banking Supervision Agency under the central bank has been upgraded to a general department, with more duties and rights as of August 1, according to a newly issued decision.

Tech innovation key to growth

Experts have called on the government to implement better policies and apply new technologies to shore up the nation's financial system.
State Bank may double charter capital Business

State Bank may double charter capital

The State Bank of Vietnam is likely to double its charter capital to 10 trillion VND (476.2 million VND) from August 15 this year in a bid to better stabilise the country’s monetary market, according to a draft circular.

Bank card payments gain popularity

Total non-cash payments in Vietnam reached 32 billion USD by late 2011, showing that consumers are increasingly using bank cards for their transaction, according to the Bank Card Association.
NA discusses education, research Politics

NA discusses education, research

National Assembly deputies on Nov. 2 heard Government reports on bills relating to higher education and the need for better research institutions to help industry and agriculture develop.