After being relatively stable last year, the foreign exchange rate of the Vietnamese dong against the US dollar is forecast to be under greater pressure in 2020 due to both internal and external headwinds.
The State Bank of Vietnam (SBV) has been invited to become a member of the Bank for International Settlements (BIS), the first expansion of the prestigious international financial institution's central bank membership base since 2011.
Cambodia attracted foreign direct investment (FDI) worth nearly 3.6 billion USD in 2019, up 12 percent year-on-year, an English-language daily has reported.
The Government supports the policy of allowing four State-owned banks to raise charter capital, said Governor of the State Bank of Vietnam (SBV) Le Minh Hung.
A report by securities firm SSI on the financial and monetary market says deposit interest rates are likely to be cut by 0.5- 1 percentage point this year, and lending interest rates would also be cut by at least 0.5 percentage points as required by the Government.
The State Bank of Vietnam (SBV) aims to again curb the inflation below 4 percent and sustain the monetary market this year, SBV Governor Le Minh Hung told a teleconference of the banking sector in Hanoi on January 2.
Many Vietnamese commercial banks have moved to develop retail banking services, seeing it as a strategy to reduce risks and optimise their business results, according to insiders.
Credit grew over 13 percent in 2019, slightly below the yearly targetof 14 percent, a senior official from the State Bank of Vietnam (SBV) told a recent press conference.
Malaysia’s central bank, known as Bank Negara Malaysia (BNM), has issued a revised policy document on anti-money laundering/counter financing of terrorism (ALM/CFT) and targeted financial sanctions (TFS), which take effect on January 1.
The Southeast Asia Joint Stock Commercial Bank (SeABank) has completed the early redemption of all special bonds at the Vietnam Asset Management Company (VAMC), thereby helping the bank proactively monitor and handle bad debts.
According to observers, Malaysia must cope with a sagging economy due to the impact of the global trade tension in 2019 and strive to find a foothold before the transfer of power scheduled next year.
Vietnam’s foreign exchange reserves have reached approximately 79 billion USD so far this year, with a quarter of it bought by the State Bank of Vietnam (SBV), according to SBV Governor Lai Minh Hung.
Thailand’s economy this year is forecast to see the weakest pace of growth in five years due to impact from global trade tensions and rising domestic currency.
Below is a recap of ten of the year’s most consequential headlines impacting consumers, investors and financial markets worldwide chosen by the Vietnam News Agency.
Capital difficulties are putting pressure on some banks struggling to meet the central bank’s Basel II deadline of early next year, but experts suggest the central bank should not delay the process.
The banking sector has recorded many important hallmarks in 2019, especially the adjustment of a series of policies to help stabilise credit institutions.
The Bank of Thailand (BoT) lowered the country’s economic growth forecast to 2.5 percent in 2019 and 2.8 percent in the next year due to heightened external risks.
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