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State Bank of Vietnam SBV
Update news State Bank of Vietnam SBV
Pandemic delays chip card conversion plans
Banks have embarked on the conversion of magnetic payment cards into chip cards for greater security, but the COVID-19 pandemic has significantly slowed down their efforts, making it difficult for them to meet the deadline.
VN central bank asks for cut in electronic fund transfer fees
The State Bank of Vietnam (SBV) on March 31 issued a directive to reduce the fees for transactions via interbank electronic payment system by 50 percent for local banks.
VN State Bank considers cutting prime interest rate
The State Bank of Vietnam (SBV) is to make decision soon on cutting the prime interest rate, the bank’s Deputy Governor Dao Miinh Tu said at a meeting on March 12.
Central bank to lower foreign ownership in payment intermediaries
The State Bank of Vietnam (SBV) plans to lower the foreign ownership rate in the payment intermediary service sector to 49 percent instead of leaving it unrestricted to avoid manipulation by foreign investors in the field.
Credit slowdown causes concern about access to bank loans
Vietnam’s credit growth is slowing and can fall behind the central bank’s target of 14 percent for 2019, causing concerns that it could make it difficult for businesses to access bank loans during the remaining months of the year.
