Banking and financial services

Banking and financial services policy and regulation

New regulations on foreign exchange management

The State Bank of Viet Nam has issued Circular No. 06/2019/TT-NHNN on foreign exchange management for foreign direct investment activities in Viet Nam.The Circular, scheduled to take effect since September 6, 2019, regulates such activities like capital contribution, opening and use of foreign currency and ...

State Bank issues new regulations on use of foreign currencies in Vietnam

The State Bank of Vietnam has issued Circular 03/2019/TT-NHNN to amend and supplement several provisions of Circular 32/2013/TT-NHNN on restricting the use of foreign currencies in the territory of Vietnam.Accordingly, Circular 03 supplements certain provisions regarding the cases that non-residents are allowed to use foreign ...

ASEAN finance ministers, central bank governors meet in Thailand

The 23rd ASEAN Finance Ministers’ Meeting (AFMM) and the fifth ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) took place in Chiang Rai, Thailand, on April 5 under the chair of Thai Finance Minister Apisak Tantivorawong and Governor of Thai Central Bank Veerathai Santiprabhob.Officials welcomed ...

Government mulls tightening foreign bank laws

At “Vietnam merger and acquisition (M&A) forum 2018”, Deputy Prime Minister Vuong Dinh Hue said that in restructuring of the country’s banking industry, the Government plans not to license any more wholly foreign-owned banks in Viet Nam, instead encouraging foreign banks to acquire domestic banks.Besides ...

VN’s foreign reserves reach record high of US$63b

State Bank of Viet Nam (SBV) has continuously bought in hard currencies in the past few months, raising the country’s foreign reserves to a record high of US$63 billion.Keep reading ...

VNS Reporter

New policy supports kid credit cards

Beginning March 3, 2018, persons who are between 15 and 18 years old can open debit cards, credit cards and prepaid cards without the need to provide proof of income’s sources, according to the State Bank of Viet Nam.Keep reading ...

VietnamNet Reporter

VN makes significant progress in sustainable finance reforms

Việt Nam has made significant progress in banking reforms to expand sustainable lending, says the first comprehensive Global Progress Report of the Sustainable Banking Network (SBN), released on February 26.Keep reading  ...

VNS Reporter

NA gives unprecedented approval to bank bankruptcy

On November 20, National Assembly (NA) officially passed the amended Law on Credit Institutions (CI), which will be effective from January 15, 2018.[] A noteworthy addition, the option of bankruptcy for CIs has never before been pushed through the NA, marking a new chapter for ...

Sam Luong

Việt Nam’s global integration: it is now the financial sector’s turn

Việt Nam has made great strides in integrating with the global economy and accomplished a great deal as its rapid economic growth in the past 30 years testifies. It is committed to opening up its finance sector, an important pillar in the economic integration process, ...

Viet Nam News Reporter

Vietnam jumps 14 places in ease of doing business: World Bank

According to the World Bank’s Doing Business 2018 report, Vietnam climbed 14 places from from the 82nd to the 68th place out of 190 economies.Keep reading  ...

Ha Thu

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