The State Bank of Vietnam set the daily reference exchange rate at 22,507 VND/USD on April 23, up 9 VND from the last working day of previous week (April 20), following the upward trend from the latter half of last week.
More efforts should be made to boost administrative reform in the banking system to further facilitate access to credit for micro, small and medium enterprises.
The State Bank of Vietnam (SBV) has ordered financial institutions and other organisations providing payment brokerage services not to conduct cross-border transactions in cryptocurrency for fear of money laundering, terrorism sponsoring, tax evasion and fraud.
Many banks have recently reduced deposit interest rates by 0.2-0.4 percentage points against earlier this year due to good capital mobilisation amidst the credit slowdown.
Prime Minister Nguyen Xuan Phuc has required the State Bank of Vietnam (SVB), financial institutions, and other organisations providing payment brokerage services to intensify inspections and promptly report suspicious cryptocurrency transactions.
The Government Inspectorate (GI) will conduct 25 crucial inspections this year, including scrutiny of the central bank’s implementation of a restructuring project in the past five years.
The government will continue paying close attention to agriculture and rural areas and create the best environment for their development, Prime Minister Nguyen Xuan Phuc said during a dialogue with farmers in the northern province of Hai Duong on April 9.
Remittance to Ho Chi Minh City in the first quarter of 2018 increased by 4.5 percent against the same period last year to reach 1.12 billion USD, a central bank official said.
Deputy Prime Minister Vuong Dinh Hue, who is also head of the National Steering Committee on Price Management, has asked for more efforts to keep core inflation at between 1.6-1.8 percent in the remaining months of 2018.
The profits of many domestic banks in the first quarter of this year are estimated to rise higher than that of the same period last year thanks to significant credit growth.
The State Bank of Vietnam (SBV) and the Republic of Korea (RoK)’s Financial Services Commission (FSC) has signed a memorandum of understanding on cooperation in the field of financial innovation in Hanoi.
Deputy Prime Minister Vuong Dinh Hue has asked relevant bodies to report a pilot plan on applying new payment services to Prime Minister before April this year.
The State Bank of Vietnam (SBV) can take early intervention measures against weak credit institutions in the supervision process from July this year, according to a new SBV regulation.
The trade union of the KB Kookmin Bank of the Republic of Korea (RoK) has recently granted 20 houses to poor labourers in Thanh Thuy and Yen Lap districts of the northern province of Phu Tho.
The list of 16 finalists in the Fintech Challenge Vietnam (FCV) – the first-ever financial technology contest in the country has been officially announced, according to the Asian Development Bank (ADB) in Vietnam on March 20.
Institutions from the Republic of Korea (RoK) have increased their investments in Vietnam’s financial market significantly, expecting to make big gains thanks to the economic growth outlook.
The Hanoi People’s Court on March 19 opened a trial for Dinh La Thang, former Chairman of the Member Council of the Vietnam National Oil and Gas Group (PetroVietnam), and six accomplices for their wrongdoings in investing PetroVietnam’s capital in Ocean Bank.
The world’s leading e-commerce player, Amazon, is scoping out the Vietnamese market, hoping to benefit local consumers and enterprises.
