Banks in Ho Chi Minh City are focusing on measures to mitigate the difficulties faced by businesses due to the COVID-19 pandemic and help them get back to health, a State Bank of Vietnam official has said.

The Politburo has assigned Le Minh Hung, member of the Party Central Committee and Governor of the State Bank of Vietnam (SBV) as Chief of the Party Central Committee’s Office.

Commercial banks should diversify their loan products, lower interest rates and simplify procedures to improve accessibility to official credit channels in an effort to keep people away from illegal sources, Deputy Governor of the State Bank of Vietnam Dao Minh Tu said.

Reforms of checks on imported products will help improve the business climate while reducing time and costs, which will give significant room for growth, Minister and Chairman of the Government Office Mai Tien Dung has said.

In the wake of new advances in science and technology that pose challenges to security and confidentiality, the State Bank of Vietnam (SBV) is drafting amendments to Circular 47/2014/TT-NHNN with new technical regulations on security and confidentiality for the card payment system.

Vietnam has adopted a good policy amid the COVID-19 pandemic, which is also crucial in ensuring the country’s long-term economic growth, said an Australian scholar.

VOV.VN - The sixth ASEAN Finance Ministers and Central Bank Governors’ Meeting (AFMGM) was held online in Hanoi on October 2.

Solutions to promoting sustainable finance in ASEAN, digital transformation in the financial service sector amid the fourth Industrial Revolution, comprehensive financial solutions, and regional digital commerce links were on the agenda of the 6th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM), held online on October 2.

The Government has directed the State Bank of Vietnam (SBV) to add non-performing loan (NPL) settlement regulations under Resolution No.42/2017/QH14 into the revised Law on Credit Institutions, SBV Deputy Governor Nguyen Kim Anh has said.

Billions of banking stocks are about to flood the market with banks planning to pay stock dividends and issue new shares to raise their charter capital.