Thursday, June 7, 2012

State Bank prepares regulations on bank restructuring | Look At Vietnam

State Bank prepares regulations on bank restructuring

June 6, 2012

State Bank of Viet Nam Governor Nguyen Van Binh will announce this month new rules governing the restructuring of the banking sector.
Some 17 SBV circulars and other documents will be issued in June covering a variety of matters including credit institution rankings and reorganization – particularly mergers and acquisitions (M&A).
The circulars will regulate the M&A activities of banks, financial institutions, leasing companies and credit funds.
The governor will also make announcements on risk assessments, co-ordination between the central bank and the Ministry of Finance, and on preferential interest rates for some organizations and individuals.
The SBV said one of its key tasks this year was to step up inspections and supervision of credit institutions to make sure they were secure and conformed with monetary and banking laws.
It will closely observe the liquidity and credit growth of the entire banking system to gradually reduce the number of vulnerable institutions.
These matters were already mentioned in the central bank’s Directive No 01 issued in the first quarter on ensuring bank security and efficiency, in accordance with the Government’s socio-economic development goals for 2012.
SBV deputy governor Le Minh Hung told vneconomy.vn that recent positive signs in the economy had enabled the central bank to be more flexible.
He added that macro-level factors had shown improvement, with inflation returning to the single-digit level, interest rates gradually falling and lending rates declining.
The website quoted Louis Taylor, general director of Standard Chartered Bank in Viet Nam, as saying confidence in the domestic banking system had improved due to good liquidity management.
However, he said many banking issues had not been resolved, and that SBV’s policies should have been more closely attuned to market developments. Policies for exchange rates, foreign exchange and derivatives were now of major interest, he said.
The director added that these shortcomings were understandable given the need to stabilise the economy.
VNS

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They say "

“I can’t say what made me fall in love with Vietnam - that a woman’s voice can drug you; that everything is so intense. The colors, the taste, even the rain. Nothing like the filthy rain in London. They say whatever you’re looking for, you will find here. They say you come to Vietnam and you understand a lot in a few minutes, but the rest has got to be lived. The smell: that’s the first thing that hits you, promising everything in exchange for your soul. And the heat. Your shirt is straightaway a rag. You can hardly remember your name, or what you came to escape from. But at night, there’s a breeze. The river is beautiful. You could be forgiven for thinking there was no war; that the gunshots were fireworks; that only pleasure matters. A pipe of opium, or the touch of a girl who might tell you she loves you. And then, something happens, as you knew it would. And nothing can ever be the same again.”
― Graham Greene, The Quiet American

Tips on Travel to Vietnam

It's always warm in Southeast Asia apart from high mountains, so leave the heavy clothing at home. Cotton and breathable fabrics are always better than synthetics -- although cotton does wrinkle a lot when traveling! December through April is roughly the dry season in that region, although it can still rain a little. December is a good time to go in terms of temperature -- cooler than in the humid summertime. Either way, wearing more clothing (shirt sleeves and long pants) is always more respectful towards the Asian culture, especially when visiting temples and rural areas.