The Hanoitimes - The relaxation of foreign ownership ceiling to 49 percent is needed to help banks meet requirements in the country’s integration and be able to compete with international peers. The government should lift the foreign holding ratio at local commercial banks to 49 percent from the current 30 percent to help banks meet requirements in the country’s rapid integration and be able to compete with international peers, experts said. Foreign capital can help local banks improve their competitiveness According to finance expert Bui Quang Tin, CEO of BizLight Business School, it is necessary to increase the ratio for foreign investors as it not only helps local banks attract large amounts of capital from foreign investors, but also contributes to improving local banks’ finance capacity, governance, risk management and other standards in line with international practices. Under current regulations, the ownership ratio of a foreign investor in a … [Read more...] about Higher foreign ownership urged to aid Vietnam’s banks in integration
Banking finance
Prudential Finance at the forefront of innovation
Atul Dixit, CEO of Prudential Finance, at the forefront of Vietnam Retail Banking Forum 2018 The events, which were held in Ho Chi Minh City on November 28-29 with great success, provided a platform for expert-led sessions on knowledge economic trends shaping the region as well as technological developments that are geared to take the financial services industry to the next level. The Vietnam Cyber Security Forum 2018 was organised by the Authority of Civil Cryptography Management and Cryptography Product Evaluation (the Vietnamese government’s Cypher Committee), the Vietnam Computer Emergency Response Team, the Authority of Cyber Security and Information Security (Ministry of Public Security), and the International Data Group (IDG Vietnam). Now in its 10th year, the Vietnam Retail Banking Forum 2018 – organised by the Vietnam Banks Association and IDG Vietnam – is one of the leading influential retail banking events in the country. Senior executives and officials … [Read more...] about Prudential Finance at the forefront of innovation
Banking-finance takes lead in Vietnam’s foreign investment
It was followed by agricultural, forestry and seafood field with $68.4 million, processing and manufacturing with $50.9 million. In 35 nations and territories which Vietnam have invested in, Laos attracts most with $97.6 million. Australia ranks second with 52.7 million and Slovakia ranks third with $35.9 million. At the following position is Cambodia, Cuba and Myanmar. The Foreign Investment Department under the ministry said that 2006-2017 is the booming phase of Vietnam’s foreign investment. The country has invested in 1,188 projects in 70 nations and territories with the total registered capital of $21.4 billion as of January last year. So far, the amount has approximated $22.1 billion. By ANH PHUONG – Translated by Hai Mien … [Read more...] about Banking-finance takes lead in Vietnam’s foreign investment
VN banks to work harder on cyber crime
Cyber security is a hot issue globally. In Vietnam, concerns on the subject have been expressed by the Government and departments, especially in the field of banking – finance, said Le Manh Hung, director of the State Bank of Vietnam’s Information Technology Department. The Vietnam Information Security Association (VNISA), the Information Technology Department and the Financial Services - Information Sharing and Analysis Center (FS-ISAC) co-organised a workshop titled ‘Threat intelligence and responses to cyber attacks in the banking sector’ in Hanoi recently. The workshop aimed to create conditions for Vietnamese financial organisations and banks to access measures to ensure safety, prevent cyber attacks and warn about cyber risks so solutions can be put in place to protect information systems effectively. The banking industry is constantly improving the quality of its services, including digital banking services such as internet banking, mobile banking, and … [Read more...] about VN banks to work harder on cyber crime
Banks to work harder on cyber crime
Cyber security is a hot issue globally. In Viet Nam, concerns on the subject have been expressed by the Government and departments, especially in the field of banking – finance. —Photo tapchitaichinh.vn Cyber security is a hot issue globally. In Viet Nam, concerns on the subject have been expressed by the Government and departments, especially in the field of banking – finance, said Le Manh Hung, director of the State Bank of Viet Nam’s Information Technology Department. The Viet Nam Information Security Association (VNISA), the Information Technology Department and the Financial Services - Information Sharing and Analysis Center (FS-ISAC) co-organised a workshop titled ‘Threat intelligence and responses to cyber attacks in the banking sector’ in Ha Noi on Wednesday. The workshop aimed to create conditions for Vietnamese financial organisations and banks to access measures to ensure safety, prevent cyber attacks and warn about cyber risks so … [Read more...] about Banks to work harder on cyber crime