wiki globe

State Bank says no to negotiable-interest loans

In Vietnam Banking Finance on November 14, 2009 at 10:38 am

The Sate Bank of Vietnam had told credit organizations not to release negotiable-interest loans to customers investing in real estate and financial assets like gold, foreign currencies and stocks.

The State Bank Governor, Nguyen Van Giau, dispatched the new regulations to credit organizations and the bank’s subsidiaries in provinces and cities on November 12.

Accordingly, credit organizations are only allowed to apply negotiable interests to loans serving the lives of customers, as well as their households. The loans will be released through credit cards.

For cases not matching negotiable-interest regulations, the Governor asked credit organizations to adjust such situations by March 31, 2010.

Source: SGGP Bookmark & Share

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: