Credit institutions could provide loans via electronic means as long as they satisfy the conditions on customer information security and confidentiality and operational safety specified by the State Bank of Vietnam

Internal control systems, including mechanisms, policies and regulations, of credit institutions and foreign bank branches in Vietnam, will be subject to independent auditing.

Fintech is the combination of two factors: Finance and Technology. For the time being, there is no official or legal definition of Fintech. It should be noted that how Fintech is defined hinges upon the specific contexts and different approaches. However, the common denominator in most definitions is the application of technologies to enhance financial services.

In January, local media reported that P.Q.T., a 25-year-old man in Ho Chi Minh City’s Binh Chanh district, was stabbed with a knife and iron tubes by a group of four while singing karaoke with his friends at home.

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.

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.

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.

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.

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.

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.