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Vietnam accelerating towards a cashless society
For the first time, the Vietnamese legal framework formally defines electronic money. Under Decree No.52/2024/ND-CP, electronic money is “the value of Vietnamese currency co-stored on electronic means provided on a reciprocal basis with the amount prepaid by customers to banks, foreign bank branches, and intermediary payment service providers providing e-wallet services.” This definition establishes electronic money as a digital form of Vietnam’s legal currency.
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VNBA and IFC talked on Fintech and Consumer Finance
On July 22, 2024 in Hanoi Headquaters, Dr. Nguyen Quoc Hung, Vice Chairman and General Secretary of Vietnam Banks Association (VNBA) has received and talked with the IFC delegation on the Fintech market and consumer finance in Vietnam.
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Discussing with experts on foreign currency policy and interest rates applied to USD deposits
On July 17, 2024, in Hanoi, under the chairmanship of Deputy Governor Pham Thanh Ha, the State Bank of Vietnam (SBV) organized a meeting with several economic experts to discuss about the foreign currency policy and the interest rates applied to the USD deposits.
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Vingroup, Techcombank propose lower interest rates and extended loan terms for social housing
Private conglomerate Vingroup and Vietnam Technological and Commcercial Joint Stock Bank (Techcombank) have proposed a new preferential credit package for social housing.
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Cheap money period in Việt Nam forecast to come to an end
The period of cheap money is coming to end as deposit interest rates are increasing, causing lending interest rates next time to be difficult to maintain at the same low level as at the beginning of this year, experts forecast.
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VNBA invites members to comment on the draft Decree on tax management for enterprises with related-party transactions
The Vietnam Banks Association (VNBA) has just sent an official dispatch to the General Directors of member organizations inviting comments on the Draft Decree amending and supplementing Decree 132/2020/ND-CP on tax management for enterprises with related-party transactions.
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VNBA invites members to comment on draft Decree on invoices and documents
The Vietnam Banks Association (VNBA) has just sent an official dispatch to the General Directors of member organizations inviting comments on the draft Decree amending and supplementing Decree No.123/2020/ND-CP regulating invoices and documents.
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Banking industry meets 6% credit growth target in H1 2024
Credit by the end of June 2024 increased by about 6 per cent compared to the beginning of the year, reaching nearly VNĐ14.4 quadrillion, a positive signal showing this year's credit growth target of 14-15 per cent is within reach, experts said.
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VISA and VNBA update on development of payment frauds
On July 15, 2024, in Hanoi, the Vietnam Banks Association (VNBA) had a reception and working session with the delegation of the Visa International Card Organization to update, exchange and discuss on the development of payment frauds in the second quarter of 2024.
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Central bank works on protecting banking service users
The State Bank of Vietnam (SBV) will research and amend regulations on safety and security in online banking service provision to better protect customers, an SBV official said on Thursday.
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Bank warns of fraudsters impersonating employees over biometric updates
Vietcombank has warned about a new form of fraud, impersonating bank staff to support biometric updates, in order to steal banking service information.
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To form a coordinated process for handling accounts and cards to prevent fraud and scams
On July 3, in Hanoi, the Vietnam Banks Association (VNBA) coordinated with the Vietnam National Payment Corporation (NAPAS) to hold a meeting to discuss the coordination process for handling accounts and cards related to transactions suspected of fraud, forgery, and scams.
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Training courses on legal knowledge related to credit contracts
On August 3, 2024, the Vietnam Banks Association (VNBA) will hold a training course themed "Legal knowledge related to Credit Contracts, Mortgage Contracts and dispute resolution skills at Court in banking activities". The member organizations are invited to nominate staff to attend.
