By Anh Minh  August 2, 2018 | 10:52 am GMT+7 U.S. dollar banknotes seen at a bank in Ho Chi Minh City, Vietnam. Photo by VnExpress/Anh Tu The dong has fallen against the U.S. dollar in recent days, but the central bank said the exchange rate is “under control.” Nguyen Thi Hong, deputy governor of the State Bank of Vietnam (SBV) Wednesday told the media at a government press conference that the greenback has also strengthened against other currencies in the world and the region. China’s devaluation of the renminbi is having an impact on how central banks around the world, including in Vietnam, are managing their currency, she said. The SBV has been adjusting the dollar reference rate by tracking the movements of many currencies, not just one, she said. The central bank fixed a central rate of VND22,666 on Thursday, up from VND22,669 the previous day but VND17 down from the weekend. Banks were buying and selling the greenback at VND23,245 and … [Read more...] about Exchange rate ‘under control’ assures State Bank of Vietnam
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KPMG hosts seminars to discuss State Bank of Vietnam’s Circular 13
Leading consulting firm KPMG recently organised talks in Hanoi and Ho Chi Minh City on the recent Circular No.13/2018/TT-NHNN, issued by the State Bank of Vietnam. KPMG speakers at the seminars The two seminars by KPMG took place on July 18 in Hanoi and July 20 in Ho Chi Minh City, as more than 260 senior executives from over 36 local banks and foreign bank branches in Vietnam gathered to discuss Circular 13 and Risk Management Practice. This seminars were a part of KPMG-run programmes to increase support for Basel II for Vietnam's banking industry. The keynote speakers were Amitava Mukherjee, director of Risk Consulting, KPMG Asia Pacific Area and Pham Do Nhat Vinh, associate director and head of FS Risk Consulting, KPMG Vietnam & Cambodia. The seminars also welcomed representatives from the State Bank of Vietnam, who talked about requirements of Circular 13, one of the laws aiming to change the quality of bank management in Vietnam. In his opening remarks, Tran Dinh … [Read more...] about KPMG hosts seminars to discuss State Bank of Vietnam’s Circular 13
Trial begins for ex deputy governor of State Bank of Vietnam
The trial of Dang Thanh Binh, former deputy governor of the State Bank of Vietnam, who is charged with “lacking responsibility and causing serious consequences” began yesterday at the HCM City’s People’s Court. The trial of Dang Thanh Binh, former deputy governor of the State Bank of Vietnam, who is charged with “lacking responsibility and causing serious consequences” began yesterday at the HCM City’s People’s Court.- Photo vietnamnet.vn Bình’s trial is connected to Pham Cong Danh, former chairman of the Vietnam Construction Bank (VNCB), who has been found guilty for illegally withdrawing more than VND9 trillion (US$402 million), the biggest-such loss ever uncovered in the country’s banking sector. He was sentenced last year to 30 years in prison. Danh was chair of VNCB’s board of directors and board of members, as well as general director of the Thiên Thanh Group. Bình is charged for his … [Read more...] about Trial begins for ex deputy governor of State Bank of Vietnam
Contestants in final round of Vietnam’s first financial technology competition
The list of the 16 finalists in the first-ever Fintech Challenge Vietnam (FCV) was officially revealed by the Asian Development Bank (ADB) – Vietnam on March 20. The Fintech Challenge Vietnam aims to adopt the latest financial technology and encourages collaboration among banks and fintechs in order to promote financial inclusion in Vietnam The Fintech Challenge Vietnam (FCV) aims to spur innovation in the financial services sector that promote greater financial inclusion in the country, focusing on five fintech “verticals” that are critical for financial inclusion, including e-Payments, e-KYC, Peer-to-peer Lending, Open APIs, and Blockchain. The competition was co-organized by the State Bank of Vietnam (SBV), the Mekong Business Initiative - a programme funded by the Government of Australia and the ADB, along with support from the Vietnam Bankers Association (VNBA) and the Vietnam Fintech Club (VFC). As of the application closing date on January 31 this … [Read more...] about Contestants in final round of Vietnam’s first financial technology competition
Communist Parties of Vietnam, Russia seek to bolster economic ties
The opinion was delivered by Leonid Ivanovich Kalashnikov, member of the Presidium – Secretary of the Central Committee of the Communist Party of the Russian Federation in Hanoi on March 13 at his meeting with Politburo member and Head of the Party Central Committee’s Commission for Economic Affairs Nguyen Van Binh. For his part, Politburo member Binh said the Party and Government of Vietnam prioritise consolidating the long-standing friendship and Comprehensive Strategic Partnership with Russia, highly speaking of the progress the two nations made in economics and trade. He welcomed initiatives made by the Communist Party of Russian Federation to bolster the two countries’ cooperation in economics, trade and investment. On March 12, Kalashnikov met with Head of the Party Central Committee’s Commission for External Affairs Hoang Binh Quan during which the two sides discussed ways to boost the two parties’ relations in the coming years. They agreed that the … [Read more...] about Communist Parties of Vietnam, Russia seek to bolster economic ties