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Official Gazette

Wednesday, November 20, 2019
Tags: Circular 39
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.
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.
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.
Government makes strides in reducing business conditions Government makes strides in reducing business conditions
The first half of 2018 saw great efforts of the Vietnamese Government in realizing its commitments to building market economy institutions in the country, especially removing legal hurdles for businesses. There have emerged some positive, significant “institutional reform” trends which are highlighted below.
New regulations on interest: a view from credit extension practice New regulations on interest: a view from credit extension practice
The State Bank of Vietnam (SBV) has recently issued some new regulations guiding lending activity of credit institutions and branches of foreign banks (credit institutions). These regulations have a significant effect on lending activity of credit institutions. Enacted to address the limitations of the precedent regulations, they also have some unclear points which might limit their effect. This article analyzes regulatory issues relevant to interests on loans of credit institutions.
Bank loans: interest and fees under the new rules Bank loans: interest and fees under the new rules
One way for credit institutions to generate revenues is charging interest and fees on loans they provide. On December 30, 2016, the State Bank of Vietnam issued Circular No.39/2016/TT-NHNN regulating lending activities of credit institutions and foreign bank branches which took effect on March 15, 2017. This text sets forth new rules relating to rates of interest and fees in lending activities.
Vietnams legal framework on e-commerce: some inadequacies and solutions Vietnam’s legal framework on e-commerce: some inadequacies and solutions
The development of the Internet and its universal use have paved the way for the growth of online business activities and brought about huge benefits to business entities. When participating in e-commerce, entities must comply with not only direct regulations on e-commerce but also relevant investment, commerce and civil laws. Therefore, the building and completion of a legal framework on e-commerce has become imperative.