SBV

Update news SBV

Vietnam c.bank to review draft policies on national digital currency

The move is part of a national strategy to promote non-cash payment in Vietnam in the 2021-2025 period.

State Bank, Transport Ministry top 2020 cyber security readiness rankings

The State Bank and the Ministry of Transport led ministries and ministry-level agencies in the cyber security readiness rankings in 2020,

NA Deputy warns of property bubbles

State Bank of Vietnam Governor Nguyen Thi Hong has sent a document replying to Ha Sy Dong, a National Assembly Deputy from the central province of Quang Tri, who spoke about property bubbles at the first session of the 15th NA on July 25.

State Bank agrees to extend debt rescheduling for six months

The State Bank of Vietnam (SBV) has agreed to extend debt rescheduling for customers for a further six months.

Vietnam welcomes US move not to change bilateral trade policy

Vietnam welcomes the US’s latest decision not to take any trade action against the nation concerning the Vietnam Currency Section 301 investigation.

 

Banking agents: caution will not create breakthrough

State Bank of Vietnam is drafting a decree on non-cash payments which will replace Decree 110/2014. One of the expected policies of the decree is on payment agents, or banking agents.

Vietnam, U.S. reach agreement over U.S.’s designation of Vietnam as currency manipulator

The U.S. Department of the Treasury and the State Bank of Vietnam (SBV) have reached an agreement over the former’s designation of Vietnam as a currency manipulator. 

Delicate balance needed to address Vietnam’s property risks: HSBC

The State Bank of Vietnam (SBV) is facing a delicate balance of curtailing excessive lending to real estate developers while reducing imminent Covid-19 risks to the sector, according to HSBC.

Bank deposit interest rates up, as stock market, real estate investing risky

Depositing money at banks is currently the safest and most profitable investment channel, as Covid-19 developments remain complicated and the stock market is "hot" and, thus, risky.

 

Transactions made via digital channels to reach 70% by 2025

The Vietnamese government will support boosting the application of new payment methods to achieve the digital transformation goals of the banking industry.

Illegal cryptocurrency exchanges turn investors into debtors

All foreign exchange (forex) trading activities in Vietnam are illegal as the authorities have not issued license for any forex trading floor.

PM orders control over capital poured into property sector

Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV) to closely control the capital injected into the real estate sector to prevent property speculation and ensure that property projects meet the demands of residents.

Vietnam applauds positive adjustment in US Treasury Department’s report

The US Treasury has removed Vietnam  from the list of countries labeled as currency manipulators.

Central bank expected to grant gold import license

Vietnamese people are overpaying to own a same amount of gold as their international peers, said an expert.

Flexible, cautious monetary policy management bears fruit

Vietnam’s economy was adversely affected by the COVID-19 pandemic in 2020, along with natural disasters and the impact of trade conflicts.

Experts explain why Vietnam should not be considered “currency manipulator”

The U.S. Department of Treasury’s decision to label Vietnam as a “currency manipulator” is not satisfactory given the country’s real conditions.

US’s branding of Vietnam as money manipulator biased: Experts

The US Treasury Department’s labelling of Vietnam as a currency manipulator is biased, as it is only based on US standards and lacks suitable consideration as well as recommendations from international organisations, according to experts.

Vietnam likely to have debt exchange

The State Bank of Vietnam has asked the Vietnam Asset Management Company (VAMC) to come up with a plan to establish a debt exchange and submit it to the competent agencies for approval.

Central Bank expected to cut key rate to aid economy

The inflation in 2020 is forecast at 3.3%, significantly lower than the target of 4% set by the government.

Black credit with interest rates of up to 1,400% per annum bleed borrowers dry

It is now easier than ever to borrow money through apps, but paying back the debts can be difficult since interest rates can be 700-1,400 percent per annum.