The Vietnamese Government is giving one-time payment of VNĐ100,000 per person as a gift on the 80th anniversary of the August Revolution and National Day. With around 107 million people, the budget was estimated at nearly VNĐ11 trillion ($417.53 million).
The State Bank of Việt Nam has proposed that all international electronic money transfers valued at US$1,000 or more within the country’s forthcoming international Financial Centre (IFC) must be reported to strengthen monitoring mechanisms and anti-money laundering (AML) efforts.
At a conference held on Monday in Hà Nội, SBV Deputy Governor Phạm Thanh Hà said that stabilising deposit rates and reducing lending rates are key tools to promote economic recovery and maintain macroeconomic stability.
The SBV also stated that it will strive to maintain stable deposit rates and reduce lending rates through cost-cutting, digitalisation, streamlined administrative procedures, and internal restructuring.
Special loans from the State budget should only be provided when credit institutions face liquidity difficulties or to facilitate compulsory recovery and transfers. These measures aim to ensure the safety of the banking system and protect depositors’ rights.
Việt Nam expects to make a significant shift in its gold trading policies as the Prime Minister has ordered that amendments to Decree 24/2012/NĐ-CP be completed by June. This move would pave the way for businesses to legally import gold, helping...
The move followed a warning issued the same day by SJC regarding counterfeit websites and Facebook pages which are impersonating its brand to deceive consumers.
The State Bank of Vietnam said it will monitor gold markets closely and coordinate with agencies to manage and stabilise the market within its authority.
According to the SBV, Decision No. 2410/QĐ-NHNN and Decision No. 2410/QĐ-NHNN aim to ensure consistency on a legal basis with other issued circulars on deposit interest rates.
Governor Hồng said the establishment of a gold exchange has positive aspects such as transparency and more favourable conditions for buying and selling needs of people and businesses, however, it requires investment in infrastructure.