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Vietnam’s monetary policy likely to come under pressure from trade war

On August 23 the State Bank of Vietnam set the benchmark exchange rate at VNĐ23,127 to the dollar, weakening the đồng by VNĐ5 compared to the previous five days (August 19).

Some "highlights" of deposit insurance operations in first 6 months

According to the Deposit Insurance of Vietnam (DIV), by the end of June 2019, there were 1,282 insured institutions in Vietnam (95 banks and foreign bank branches, 01 cooperative bank, 1,182 People’s Credit Funds (PCFs) and 4 microfinance institutions).

Positive changes in dealing with bad debts after 2-year implementation of Resolution 42

Thanks to the leadership and the close instructions of the National Assembly and the Government together with the efforts and determination of the entire banking sector and the coordination from ministries, agencies and local authorities, after nearly two years of implementing the Resolution No. 42/2017-QH14 on pilot resolution of bad debts of credit institutions (Resolution 42), bad debts have been maintained and controlled at a safe level, thus  facilitating the restructuring of credit institutions (CIs).

Dissemination of deposit insurance policy to students

Raising students’ awareness of and disseminating information about deposit insurance (DI) policy to them in a complete and timely manner will help students understand rights, obligations and legitimate interests of depositors, thereby orienting them properly towards the future. Moreover, with their own actions, students will be the new generation to create new financial behaviors which are likely to spread widely throughout the community.

Amending Circular on statistical reporting regime applicable to credit institutions

It is noteworthy that Point d of Clause 2, Article 12 of the Circular No. 35/2015/TT-NHNN dated December 31, 2015 on statistical reporting regime applicable to credit institutions and foreign bank branches is removed from the new draft Circular.

Deposit insurance policy and safe and sound development of People’s credit funds

It is indispensable for any country striving to develop a robust economy to have a stable and sound finance-banking system, which, in turn requires the credit institutions (CIs) to constantly innovate and enhance their operational performance. In that trajectory, in the past years, the People’s credit fund (PCF) system has transformed themselves to catch up with market trends. Deposit insurance (DI) policy also plays an active role in this process, contributes to ensuring the safe and sound operation of PCFs.

Banks warned about risks of real estate corporate bonds

The State Bank of Việt Nam (SBV) has instructed local banks to better control risks in corporate bond investment, especially bonds of real estate firms.

Strengthening non-cash payments for public services

The Governor of the State Bank of Vietnam has issued Document No. 6422/NHNN-TT requiring the SBV municipal and provincial branches to enhance cashless payments for public services.

Fintech firms need clear policy to develop

Vietnam needs a proper legal framework for financial technology (fintech) services, a State Bank of Vietnam (SBV) official said on August 20.

Concentrates capital on agriculture, rural areas, contributing to curbing black credit

Rural areasare places where black credit is ongoing in a complicated way. Not a few people who are nervous toaccess banking services and lack knowledge of banking finance are easily attracted by loan sharks. Therefore, concentrating credit on rural areas, improving communication, financial education to the disadvantaged who have few opportunities of accessing banking services is one of tasks which attract attention from the banking sector, and thus contribute to preventing and curbing black credit and promoting financial inclusion.

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