State Bank of Vietnam
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Banks and investment funds are racing to partner up with fintech businesses in their quest towards digitalisation.
The State Bank of Vietnam (SBV), the country's central bank, has recently expanded the credit growth quotas for a number of commercial banks, making many believe that the Vietnam’s central bank has opted for monetary easing.
Resident and non-resident foreigners in Vietnam are still permitted to make term deposits at local banks despite some banks saying they would not accept savings deposits from individual foreign customers.
The State Bank of Vietnam (SBV) has warned Vietnamese credit institutions and foreign banks in the country to be cautious before working with peer-to-peer (P2P) lending companies as there are many risks related to the service.
The number of non-cash payments in Vietnam has steeply risen so far this year.
After recording its slowest pace in more than three year last month, Vietnam’s inflation is forecast to hit only 2.7 percent in 2019 after standing at 3.5 percent last year.
The State Bank of Vietnam (SBV) obtained a large amount of foreign currencies in the first half of 2019, pushing foreign exchange reserves recorded in the period to the highest level to date.
The State Bank of Vietnam has issued a new circular relaxing regulations on bank deposit services for foreigners and nonresidential organizations in Vietnam, a move designed to attract idle funds from the expat community.
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The Ministry of Information and Communications (MIC) has ordered tens of domestic and foreign brands to not advertise on video clips that contain anti-State propaganda on YouTube, a video-sharing platform.
Realty credit has soared compared with that of last year. Realty inventories have piled up, signaling rising risks.
Prime Minister Nguyen Xuan Phuc underscored the determination to accomplish all goals set for 2019, striving for a GDP growth of 6.8 percent and reining in inflation under 4 percent at the Government’s monthly meeting held in Hanoi on May 31.
The Vietnam Bank Card Association, in collaboration with the National Payment Corporation of Vietnam (NAPAS) and seven commercial banks, launched the first domestic chip cards on May 28.
A majority of credit institutions in the country said their business performance in the first quarter of 2019 was better than the same period last year, according to the State Bank of Viet Nam's March survey released late last week.
The State Bank of Vietnam (SBV) has ordered local banks to allow easier access to credit for clients to help fight loan sharks, as illegal rings have recently mushroomed in some localities, stated SBV Deputy Governor Dao Minh Tu.