All banks in the country have to adopt the standard version of Basel II and then switch to the advanced version by 2025. — Photo baokiemtoannhanuoc.vn In 2016 the State Bank set a deadline of January 1, 2020, for 17 banks to meet Basel II norms under a national banking sector development strategy. Also, by 2025 all banks in the country have to adopt the standard version of Basel II and then switch to the advanced version. Basel II is the second edition of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on banking supervision. It comprises minimum capital requirements, supervisory review and market discipline to enhance competition and transparency in the banking system and make banks more resistant to market changes. Basel II requires banks to have a capital adequacy ratio (CAR) of at least 8 per cent. However, the SBV has allowed 10 banks to adopt Basel II standards earlier than the 2020 deadline. They are Joint Stock … [Read more...] about Basel II deadline rapidly approaching, are banks on course to meet norms?
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COM ONE, COM ALL: People wait in a long queue for Cơm 2k. Photos Việt Hà By Nguyễn Thanh Hà “We eat a meal for just VNĐ2,000 (US$0.09) at Tiệm cơm An Phúc (An Phúc Charity Restaurant) on Hà Nội’s Giải Phóng Road every Saturday afternoon,” said Nguyễn Thị Phương, who has spent the last several years looking after her mother who is on dialysis at Bạch Mai Hospital. “Since it opened last June we have been coming to the restaurant because here we can enjoy nutritious dishes which often cost VNĐ30,000-40,000 ($1.30-1.70) at other shops in the city,” Phương said. She said many of Bạch Mai Hospital’s poor patients and their relatives from Hà Giang, Tuyên Quang, Hưng Yên, Yên Bái, Sơn La and other remote provinces often come to the eatery. “With only VNĐ2,000 we can … [Read more...] about Hà Nội’s Cơm 2k serves up a healthy portion of respect
KIND HEART: Nun Nguyễn Thị Hường, the founder of Tín Thác Foster House, is pictured with the children raised in the house. Photo Thanh Hải’s Facebook By Phương Hà There is a special home in Bảo Lộc City in the Central Highlands province of Lâm Đồng that is always filled with the laughter of children. This home is Tín Thác Foster House. Over the past ten years since its establishment, over 100 orphans have been raised and nurtured there with the love of nuns and the joint support of volunteers and benefactors nationwide. Phúc Ân, the eldest of the 100 children, was the first orphan who was saved and raised by nun Nguyễn Thị Hường, the founder of Tín Thác Foster House. One day, the 63-year-old nun discovered a pale little boy, weighing just 1.3kg, wrapped in a woman’s shirt and placed in a cardboard box by the … [Read more...] about Nun raises abandoned children
1. We, the Foreign Ministers of the Association of Southeast Asian Nations (ASEAN), met on 31 July 2019 at the 52nd ASEAN Foreign Ministers’ Meeting (AMM) in Bangkok. We underlined the need to further strengthen cooperation and advance our partnership to ensure sustainability in all dimensions for ASEAN amidst the rapid changes in Southeast Asia and beyond. ASEAN COMMUNITY-BUILDING 2. We reaffirmed our commitment to the full and effective implementation of the ASEAN Community Vision 2025 and the ASEAN Leaders’ Vision Statement on Partnership for Sustainability. We reaffirmed the importance of maintaining ASEAN centrality and unity in our community-building efforts, engagement with external partners and regional architecture. We commended the ongoing work of all ASEAN Sectoral Bodies and Organs for progress in the implementation of the ASEAN Political-Security Community (APSC), ASEAN Economic Community (AEC), and ASEAN Socio-Cultural Community (ASCC) … [Read more...] about Joint Communique of 52nd ASEAN Foreign Ministers’ Meeting
Opening up opportunities Dang Hoang Hai, director of the Department of E-commerce and Digital Economy under the Ministry of Industry and Trade, said the CPTPP is a new-generation free trade agreement with a high level of commitment covering trade and non-trade issues. The main objectives of the CPTPP are to eliminate tariffs and technical barriers to import and export goods and services, to agree on common rules and regulations among member countries, and to promote the development of digital commerce. Chapter 14 of the agreement signed in March deals with e-commerce. It prohibits the imposition of customs duties on digital products, to ensure that products distributed electronically, such as software, music, video, e-books, and games are not disadvantaged. To facilitate digital trade, the chapter includes provisions encouraging CPTPP member countries to promote paperless trading between businesses and the government, such as customs forms in electronic format, as well as providing for … [Read more...] about CPTPP offers opportunities for e-commerce