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Official Gazette

Tuesday, July 23, 2019
Tags: draft circular
Central bank wants to promote mobile payment Central bank wants to promote mobile payment
In Vietnam today, the term “fintech - financial technology” has become more and more popular. Particularly in the field of intermediary payment services, there has been a tremendous increase in the number of e-payments, especially mobile payments via e-wallets, over the past few years. Let’s examine the situation of the mobile payment sector as well as measures to be taken by state authorities to facilitate business operations while ensuring payment security and safety.
Stricter rules on personal realty loans Stricter rules on personal realty loans
Banks would increase the risk ratio to 150 percent, three times higher than the present level, for persons who ask for loans to meet their living needs and have an outstanding principal amount worth over VND 3 billion (USD 130,000).
Central bank puts forth tighter regulations on e-wallets Central bank puts forth tighter regulations on e-wallets
The State Bank of Vietnam has proposed stricter regulations on opening and use of e-wallets in a draft circular revising Circular 39 of 2014 on intermediary payment services, with the aim of preventing the abuse of the e-wallet business for money laundering and other illegal purposes.
Toward a new circular regulating intermediary organizations in Vietnams science and technology market Toward a new circular regulating intermediary organizations in Vietnam’s science and technology market
A draft circular replacing Circular 16/2014/TT-BKHCN dated June 13, 2014, of the Minister of Science and Technology, will be finalized very soon. This new circular stipulates favorable conditions for the establishment and operation of intermediary organizations in Vietnam’s science and technology market in the coming time.
Toward a new circular regulating intermediary organizations in Vietnams science and technology market Toward a new circular regulating intermediary organizations in Vietnam’s science and technology market
A draft circular replacing Circular 16/2014/TT-BKHCN dated June 13, 2014, of the Minister of Science and Technology, will be finalized very soon. This new circular stipulates favorable conditions for the establishment and operation of intermediary organizations in Vietnam’s science and technology market in the coming time.
Draft to promote non-performing loan resolution in the banking sector Draft to promote non-performing loan resolution in the banking sector
Credit institutions selling their debts for special bonds would be disallowed to pay cash dividends to their shareholders.
SBV to reduce reserve requirement ratios on bank deposits SBV to reduce reserve requirement ratios on bank deposits
Credit institutions that take part in the central bank’s plan on supporting the restructuring of ailing credit institutions would be allowed to halve reserve requirements for all types of deposits.
New regulation on inspection and verification of origin of exports New regulation on inspection and verification of origin of exports
The Ministry of Industry and Trade has recently issued Circular 39 prescribing the inspection and verification of origin of exports, which will take effect on December 14.
Law-abiding businesses to enjoy customs priorities Law-abiding businesses to enjoy customs priorities
Import and export businesses would be classified into four categories based on the level of law observance and on that basis, subject to different customs inspection and clearance regime.
Draft circular tightens inspection of origin of exports Draft circular tightens inspection of origin of exports
The Ministry of Industry and Trade is working on a draft circular on inspection and verification of the origin of exports, aiming to improve the quality of the country’s exported goods.

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