Social policy credit has been a “highlight”, and a “pillar” in the system of policies aimed at alleviating poverty and ensuring social security, meeting the desire of the people, particularly impoverished and disadvantaged groups, over the past decade, Prime Minister Pham Minh Chinh said on August 14.
The State Bank of Vietnam (SBV) has requested credit institutions and branches of foreign banks to boost consumer lending as part of efforts to prevent loan sharks who have targeted vulnerable people.
The National Payment Corporation of Vietnam (Napas) and seven domestic banks recently launched domestic credit chip cards with unified standards to promote cashless payments and tackle black credit.
The National Payment Corporation of Vietnam (Napas) last week said it will work with seven banks to introduce domestic credit chip cards with unified standards to limit cash payments and tackle black credit.
Promoting consumer finance and simplifying procedures for loan applications would be a priority for commercial banks, financial companies and microfinance institutions as part of efforts to limit black credit, a conference heard in Ho Chi Minh City on January 20.
Commercial banks should diversify their loan products, lower interest rates and simplify procedures to improve accessibility to official credit channels in an effort to keep people away from illegal sources, Deputy Governor of the State Bank of Vietnam Dao Minh Tu said.
The State Bank of Vietnam (SBV) has issued a document requesting credit organisations and branches of foreign banks to expand credit activities serving production, business and consumption as part of efforts to limit “black credit”.
The capital amounts may be small to many urban families but thanks to them, those in rural and ethnic minority areas have escaped poverty and enriched themselves.
The Ministry of Public Security has been asked to tighten security for upcoming important events, including the Party Congress at all levels, according to Government Resolution No. 50/NQ-CP issued recently.
The State Bank of Vietnam (SBV) has requested credit institutions to enhance management to ensure their staff adhere to legal regulations and do not take part in “black credit” activities.
The State Bank of Vietnam (SBV) will launch more effective credit programmes to support agricultural production and improve local livelihoods, making contributions to boosting economic growth while wiping out black credit in rural areas.
The banking sector has defined its responsibility in deploying measures to enable people to get access to official credit for business and production activities.
Minister of Public Security To Lam has answered questions on major issues of public concern such as black credit activities, hi-tech crime, online gambling, organised crime and violations committed by officers working in the security sector.
