Vietnamplus

Deputy Prime Minister Truong Hoa Binh has assigned the State Bank of Vietnam (SBV) to devise measures to control illegal financial transactions and tax evasion via illicit international payment gateways.

Ho Chi Minh City’s credit growth amounted to some 2.4 quadrillion VND (104 billion USD) as of the end of 2020, making up nearly 27 percent of the country’s total.

The State Bank of Vietnam (SBV) targets a credit growth rate of 12 percent in 2021, equivalent to the growth of 12.13 percent last year, according to SBV Deputy Governor Dao Minh Tu.

Vietnamese banks will only be allowed to issue chip cards from March 31, 2021, according to a State Bank of Vietnam (SBV) draft circular.

The State Bank of Vietnam (SBV) has proposed expanding the Vietnam Asset Management Company's (VAMC) operations, saying the agency should purchase and sell bad debts and assets of all sectors in the economy.

The COVID-19 pandemic is the biggest ever challenge but the crisis has brought about huge opportunities from the positive perspective.

The Politburo has decided to give a warning to Politburo member, Secretary of the Party Central Committee and head of the Party Central Committee’s Economic Commission Nguyen Van Binh as a disciplinary measure for his mistakes during the time he served as Governor of the State Bank of Vietnam.

The Politburo has assigned Le Minh Hung, member of the Party Central Committee and Governor of the State Bank of Vietnam (SBV) as Chief of the Party Central Committee’s Office.

The State Bank of Vietnam (SBV) should develop policies for commercial banks, helping them disburse capital mobilised from organisations and people, said economic expert Nguyen Minh Phong.

The State Bank of Vietnam (SBV) urged the banking industry to build an inclusive finance system that serves all members of society in Vietnam in Hanoi on September 10.

The Deputy Governor of the State Bank of Vietnam has asked units to regularly review and assess the implementation outcomes to determine the possibility of fulfilling assigned tasks in order to have suitable solutions, ensuring set goals.

There have been signs of reduction in the habit of using cash among people, but the switching to cashless paymentsremains slow, according to the State Bank of Vietnam (SBV).

Credit growth for the remainder of the year will be driven by imports and exports, according to a recent survey by the State Bank of Vietnam (SBV).

The State Bank of Vietnam (SBV) announced it could adjust monetary policies, including credit growth and incentives, in the remaining months of the year to cope with the COVID-19 pandemic.

The State Bank of Vietnam could increase credit growth limits for credit institutions this year or even launch stronger monetary policies to aid the country’s post-pandemic growth, Governor Le Minh Hung has said.

As of June 29, banks in HCM City had slashed interest rates, extended debt repayment deadlines, and maintained debt classifications for businesses hurt by the COVID-19 on the total loans worth more than 384.6 trillion VND (16.53 billion USD).

Some credit institutions (CIs) that have not yet completed their restructuring roadmap will have to speed up the process to meet the State Bank of Vietnam (SBV)’s deadline this year.

Amidst the COVID-19 pandemic, many banks have undertaken measures to allow customers to open bank accounts online in the future.

Many commercial banks are proposing the central bank to extend credit growth limits as they have nearly reached the allowed threshold.

Banks have embarked on the conversion of magnetic payment cards into chip cards for greater security, but the COVID-19 pandemic has significantly slowed down their efforts, making it difficult for them to meet the deadline.