4:15:29 PM | 5/9/2008
The government has asked the State Bank of Vietnam (SBV) to issue new regulations about establishing new commercial banks within the third quarter of this year.
The new banks must have higher criteria and conditions for capital scale, governance and other technical conditions, which are also basis for adjusting operations of the existing banks.
The SBV has to temporarily stop licensing new banks to build the new regulations.
Under the government’s instructions, the central bank will have to continue maintaining the tight, but flexible monetary policy to curb inflation, stabilize macro economy, and ensure social welfare and sustainable development in the remaining months of this year. (Vietnam Economic Times)
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