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Official Gazette

Friday, February 28, 2020

Up-to-2020 plan to improve access to banking services approved

Updated: 15:07’ - 13/09/2016
By 2020, some 70 percent of Vietnamese adults will have bank accounts.

This is an important target set forth in Prime Minister Decision No. 1726/QD-TTg of September 5, approving the plan on improving the economy’s access to banking services.

By 2020, 35-40 percent of rural adults will open saving accounts at credit institutions__Photo: Internet

Besides, 35-40 percent of rural adults will open saving accounts at credit institutions and 50-60 percent of small- and medium-sized enterprises (SMEs) will get easy access to bank loans.

To attain such goals, by 2020, there must be at least 20 bank branches or banking transaction offices per 100,000 adults, the Decision said.

Under the Decision, banking service access will be improved along with restructuring of the credit institution system, adhering to the market rules and principles of equality and convenience so as to create favorable conditions for both service providers and users.

In light of this, the Government will set out a clear legal framework for credit institutions to design and develop banking services, especially non-credit banking services. Credit institutions will be also encouraged to provide banking services in rural, deep-lying and remote areas and to SMEs.

Information technology application will be stepped up to modernize and diversify banking products and services in a simple, convenient and accessible manner for rural and low-income clients.

Better banking service access must go hand in hand with better protection of lawful rights of service users in harmony with the interests and sustainable development of the credit institution system, the Decision stressed.- (VLLF)

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