1:36:11 PM | 14/10/2008
Governor of the State Bank of Vietnam (SBV) has issued five measures to help protect the safety of local banks and credit institutions.
First, credit institutions should put close eyes at the global financial meltdown and forecast their impacts on Vietnam economy to prepare measures to hedge risks.
Second, the SBV urged local banks to take their initiatives in business, continued to raise capital and boost credit growth at reasonable interest rate and ensure payment capability, especially on the occasion of New Year festivals.
Third, banks should tighten control over credit quality, classify loans for real estate, boost credit for export, agriculture sector, rural areas, key national projects and effective projects, targeting small and medium enterprises.
Fourth, credit organizations are also asked to obey regulations on safe operations.
And last, they should recheck and make perfect procedures of credit operation, forex trading, payment, money transfer and technology supply and evaluate risks for protection.
The governor also asked credit institutions to timely report their difficulties if any. (Vietnam Economic Times, Labor)
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