Low inflation in April has provided a good chance for the State Bank of Vietnam (SBV) to lower annual deposit interest rates to 7 percent and loan rates to 10 percent.
As usual, the 9th China-ASEAN Expo was held in Nanning, Guangxi, China from the 21st to the 25th of September, 2012. The CAEXPO gathered approximately one hundred Vietnamese companies to join in to introduce Vietnamese products, brand name and Vietnam’s image as well to China-ASEAN free trade area and international market.
Just like last year, MHB and Western Union are again organizing the “Receive money – Lucky Draw” sweepstakes. The promotion is open from 1/12/2011 until 31/01/2012 and carries the following terms:
Since becoming an agent of Western Union (01 April 2010), MHB’s International Banking Department and Western Union Vietnam held two training course for the entire MHB teller in order to improve customer service quality and increase Western Union transaction volume.
After 12 years of establishment and development (1998 -2010) MHB have made massive progresses include expanding network up to 220 POS (Point of Sale) nationwide with customers’ service hotline, 3 million dollar investment for management software.
The State Bank of Viet Nam (SBV) has decided to cut interest rates used as management tools by 1 percentage point. The change, Deputy Governor Nguyen Dong Tien said, would take effect next Monday.
The State Bank proposes to provide VND30 trillion (US$1.428 billion) for lending to low-income house renters and buyers, plus investors in social housing projects, at an interest rate of 6 per cent for three years
Existing gold traders are allowed to continue buying and selling gold bars until the end of November
The State Bank of Vietnam has said there will be a one-time issuance of licenses to gold traders that can meet its new requirements for bullion trading, giving other companies six months to quit the business.
The fight against money laundering and terrorist financial activities has been a long running issue of interest and many counties have adopted laws and mechanisms to combat these problems.
Vietnam’s Prime Minister Nguyen Tan Dung has asked the country’s authorities to strengthen efforts to keep prices stable and stabilize the exchange rate, a government statement showed.
The Asian Development Bank (ADB) approved on Monday a US$60 million loan for a financial reform program in Vietnam, targeting the development of the securities and bond markets.
Though the banking sector is facing a lot of difficulties, many foreign banks remain eager to “shake hands” with Vietnamese banks. Meanwhile, foreign banks in Vietnam say they can see bright prospects in the market.
Vietnamese Prime Minister Nguyen Tan Dung has told the central bank to take “strong” steps to stabilise the foreign exchange and gold markets, and requested the finance ministry to implement price controls on certain goods.
(10/05/2013)
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