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Deputy Governor of the SBV Dao Minh Tu (Photo: VGP)
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On July, 30th, 2024, VNBA Vice-Chairman cum Secretary General Nguyen Quoc Hung has received and talked to Singaporiean Fintech Association CEO Reuben Lim. Participated in the meeting, there were Mr. Truong Quang Viet – Vice Chairman of Vietnam Fintech Club and representatives from VNBA standing Agency’s units.
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.
To date, twenty two credit institutions and 13 payment intermediaries have successfully deployed VNeID app for authentication of payment account opening, payment transactions and customer information verification.
The National Cyber Security Centre (NCSC) discovered 68 more websites impersonating the brands of agencies and organisations in order to scam users last month.
The State Bank of Vietnam (SBV) will manage interest rates in accordance with macroeconomic balance and inflation in the second half of 2024 to ensure macroeconomic stability and inflation control, an SBV official said on Tuesday.
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.
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.
Private conglomerate Vingroup and Vietnam Technological and Commcercial Joint Stock Bank (Techcombank) have proposed a new preferential credit package for social housing.
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.
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.