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Official Gazette

Tuesday, July 23, 2019
Tags: the State Bank of Vietnam
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.
Banks may assess pollution risks before granting loans Banks may assess pollution risks before granting loans
Banks will assess environmental pollution risks when granting loans to projects in some industries, according to a State Bank of Vietnam draft regulation.
Vietnam looks to develop cashless payment Vietnam looks to develop cashless payment
The State Bank of Vietnam is working to complete the legal corridor and build rational mechanisms to boost cashless payments, which helps prevent corruption, money laundering, and tax invasion.
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.
Credit package proposed for support industry Credit package proposed for support industry
The Ministry of Industry and Trade (MoIT) has proposed a VND 100 trillion preferential credit package for the development of the country’s support industry.
Vietnam recorded positive economic achievements in Q1 Vietnam recorded positive economic achievements in Q1
In the first quarter of 2019, Vietnam recorded positive economic achievements despite a range of difficulties both in and outside the country, Prime Minister Nguyen Xuan Phuc said at a Government cabinet meeting in Hanoi on April 2. The country’s GDP growth was estimated at 6.79 percent, while the macroeconomy was stabilized and foreign currency reserves were on the rise.
Govt takes bold measures to ensure safety of finance system Gov’t takes bold measures to ensure safety of finance system
Poorly-performing State-owned people’s credit funds – a type of credit institution focusing on people in rural areas to help them escape poverty and avoid dependence on loan sharks – will be merged, acquired or dissolved to ensure the safety of the country’s finance and banking system.
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.

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