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State Bank tightens rules for creating new banks
The State Bank of Vietnam has put the final touch to a draft regulation on the establishment and operation of joint-stock commercial banks, under which investors will meet stricter requirements to set up banks. Under the draft paper, all Vietnamese institutions and individuals would have the right to make capital contributions to, set up and manage joint-stock banks upon meeting eight requirements, including the ones on legal capital, number of shareholders, ownership proportions and founding shareholders.
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