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Significant progress in sustainable finance reforms

Vietnam is among 38 emerging market economies to have initiated key banking reforms to drive development and fight climate change.

Cryptocurrency rules need to be clarified

The State Bank of Vietnam (SBV) is working on a new decree to regulate cryptocurrency.

Need for a clear and flexible legal corridor

The Vietnam Association of People's Credit Funds (VAPCF) proposed the State Bank of Vietnam (SBV) submit amendments to the stipulations regarding People's Credit Funds (PCFs) in the Law on Credit Institutions to the National Assembly to align them with PCFs’ operations, create favorable conditions for PCFs’ development in an increasingly competitive environment...

 

Inspection and supervision come closer to international standards

Enhancing the effectiveness and efficiency of the banking inspection and supervision system in compliance with international practices and standards is one of the most important tasks set in the Development Strategy of Vietnam Banking Sector to 2025 with Orientations to 2030...

Fitch Ratings affirms Việt Nam’s sovereign rating at 'BB' with positive outlook

Fitch Ratings has kept Viet Nam's sovereign rating at 'BB' with a positive outlook, saying the delayed payment on a Vietnamese government-guaranteed loan in September was paid in full within the month and Fitch understands the administrative problems that gave rise to this delay are being addressed.

Vietnamese finance market braced for remarkable EVFTA impacts

Under the EU-Vietnam Free Trade Agreement (EVFTA), compared to many other service sectors, financial services have been much more limited in market opening in terms of both the scope of activities and the level of foreign participation.

E-wallet limits: Adequate for people’s incomes

Regarding comment collection of the State Bank of Vietnam (SBV) for the draft Circular amending and supplementing the Circular No. 39/2014/TT-NHNN on guiding intermediary payment services, experts said that the e-wallet limits set in the draft is appropriate for the current context and a proper roadmap is necessary when considering an increase in the limits.

Vietnamese banks struggle to raise chartered capital

The time to apply standards in accordance with Basel II is nearing and commercial banks are rushing to raise chartered capital.

Improving accessibility to banking services for Vietnam’s economy

It is necessary to build a full database of financial inclusion. This serves not only the development of financial inclusion but also the Government’s policy making. To achieve this goal, the progress of building database of residents and policies on connecting with regulators, enterprises, credit institutions and residents should be accelerated to pave the way for developing digital financial and banking of the country. 

Banks and their journey to Basel II

It is a requirement for all commercial banks in Vietnam to apply Basel II, specifically according to the Circular No. 41/2016/TT-NHNN (Circular 41), from 1 January 2020, all banks shall have to officially apply Basel II to their capital adequacy ratio. 

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