Trang Chủ
The SBV decision stipulates the accounts receivable sales could take place between April and August, during which time the central bank is to closely monitor the pilot programme with the aim of drafting new legislation to govern the practice in future.
It states licensed financial leasing companies would be eligible to participate by selling the accounts to banks headquartered in Ha Noi and HCM City.
The Viet Nam International Financial Leasing Company, the Viet Nam Bank for Agriculture and Rural Development’s (Agribank) Financial Leasing Company No2, and the Bank for Development and Investment of Viet Nam’s (BIDV) Financial Leasing Company No1 qualify as transferors under the decision, while the Asia Commercial Joint Stock Bank, BIDV and Agribank would be eligible to purchase the accounts, it said.
Several industry watchers asserted financial leasing companies now face limited access to medium-term lending capital, constraining their ability to offer financial services.
However, they commented the SBV decision to permit the sale of accounts receivable would give financial institutions access to significant capital resources.
Source: Vietnam News
SBV to trial debt-transfer policy
Thứ 6 , 05/05/2006
The State Bank of Vietnam (SBV) recently announced it would allow financial lending companies to sell their accounts receivable on a four-month trial period, a move it said would provide an additional source of capital for financial institutions.
