Sbv

  E-wallets have become popular in Việt Nam. The central bank allows a monthly transaction limit of VNĐ100 million. — Photo vietnamplus HÀ NỘI — The State Bank of Việt Nam (SBV) will abolish the daily transaction limit of VNĐ20 million (US$854) for personal e-wallets but keep the monthly limit of VNĐ100 million per month, according to Director of SBV’s Payment Department Phạm Tiến Dũng. The transaction limits are part of the central bank’s draft circular about intermediary payment services, which was recently made public to gather ideas from relevant agencies, businesses and people. Speaking at a recent conference held in HCM City on Tuesday, Dũng said the central bank had received ideas from the Vietnam Chamber of Commerce and Industry for its draft circular saying that the transaction limit of VNĐ20 million a day for personal e-wallets is not practical because many electronic products … [Read more...] about SBV abolishes daily transaction limit for e-wallet

QR Code payment is among non-cash payment methods that have gained popularity recently.- Photo vietnamplus.vn Speaking at “Towards a cashless society” organised by Tuoi Tre (Youth) newspaper, Nguyen Kim Anh, deputy governor of the State Bank of Viet Nam (SBV), said cashless payment was an irreversible trend due to its many benefits. For consumers and merchants, this provided greater convenience, efficiency and security and lesser risk. The government also benefitted from the shift to electronic payment since it increased transparency in the economy and reduced the underground economy. For payment service providers, this could improve transaction efficiency and increase revenue since they could offer many products and services. But a cashless society did not always bring positive results, with some countries with high level of non-cash transactions facing public concern about internet security and user data privacy. Other concerns related to operational risks such as … [Read more...] about Cashless payments an irreversible trend:SBV

Financial Markets Loans for BOT projects may turn bad: SBV governor The Saigon Times Daily Monday,  Oct 21, 2019,18:07 (GMT+7) Loans for BOT projects may turn bad: SBV governorThe Saigon Times Daily A teller of a bank in HCMC counts Vietnamese banknotes on a cash counter. SBV Governor Le Minh Hung has warned that loans for BOT and BT projects are likely to turn bad - PHOTO: THANH HOA HCMC – The governor of the State Bank of Vietnam (SBV) has expressed concern over the huge outstanding loans for build-operate-transfer (BOT) and build-operate (BT) infrastructure projects, noting that the loans may turn bad if no new government policies are adopted to back these projects. Le Minh Hung raised the issue at the eighth sitting of the 14th National Assembly (NA), which opened today, October 21, Thanh Nien newspaper reported. Hung explained that some VND53 trillion had been loaned to BT and BOT projects. In the year to … [Read more...] about Loans for BOT projects may turn bad: SBV governor

  Credit institutions will be subject to the control if they are given a weak ranking for two consecutive years according to the central bank’s regulations. VNA/VNS Photo HÀ NỘI The State Bank of Việt Nam (SBV)’s Governor or the directors of SBV’s municipal and provincial branches will be able to lace credit institutions under the SBV’s special control, starting from next month. Under Circular 11/2019/ TT-NHNN on special control for credit institutions, which will take effect of October 1 this year, credit institutions (excluding policy banks) that fall into one of seven cases will be placed under the SBV’s special control. First are credit institutions facing a shortage of highly liquid assets at 20 per cent or more at the time of solvency ratio calculation which causes them to fail to maintain the solvency ratio for three consecutive months. Additionally, credit institutions that cannot pay their debt obligation within one … [Read more...] about New special control regulations for credit institutions to take effect next month

The State Bank of Vietnam (SBV) set the daily reference exchange rate at 23,165 VND per USD on October 1.(Photo: VNA) Hanoi (VNA) - The State Bank of Vietnam (SBV) set the daily reference exchange rate at 23,165 VND per USD on October 1, up 4 VND from the previous day. With the current trading band of  +/- 3 percent, the ceiling rate applied to commercial banks during the day is 23,859 VND per USD and the floor rate at 22,470 VND/USD. The opening hour rates at commercial banks increased. At 9 am, Vietcombank listed the buying rate at 23,120 VND/USD and the selling rate at 23,270 VND/USD, both up 10 VND from the same time on September 30. BIDV also added 10 VND to their rates, with the buying rate listed at 23,150 VND/USD and the selling rate at 23,270 VND/USD. Meanwhile, Techcombank kept their both rates unchanged from the previous day, listing the buying rate at 23,132 VND/USD and the selling rate at 23,272 VND/USD./. VNA … [Read more...] about Reference exchange rate up 4 VND on October 1