Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."




Join Us for Dinar Discussions and More -- We Keep it REAL
 
HomeSearchFAQLog inRegister
YOU MUST Sign in with your USERNAME to POST
Follow us on TWITTER
DINAR INFORMATION LINKS

PARTNER SITES
Key Words
Adam Montana, AdminBill, Benjamin Fulford, Currency Exchange, David Schmidt, Dinar, Dinar Guru, Dinar Recaps, Dinar Rv, Dinar Scam, Dr Clarke, Frank26, Gary Larrabee, Gurus, Guru Hunters, JerzyBabkowski, Kaperoni, Kenny, Monetary Reform, Mnt Goat, My Ladies, Okie, Poppy, RamblerNash, Ray Renfrow, Redenomination, Revaluation, Ssmith, TNTBS, Tnt Tony, WING IT, We Are The People, Willis Clark, WSOMN, Yosef, Zap
Share | 
 

 VIETNAM - Foreign banks face asset threshold

View previous topic View next topic Go down 
AuthorMessage
lexie
Elite Member
Elite Member
avatar

Posts : 1812
Join date : 2011-06-24

PostSubject: VIETNAM - Foreign banks face asset threshold    Wed Dec 21, 2011 4:59 pm

December 21, 2011


Foreign banks face asset threshold

Foreign banks who want licences to operate in Vietnam must have at least VND100 trillion ($4.76 billion) worth of assets in total, according to the State Bank of Vietnam (SBV).

Circular 40/2011/TT-NHNN, announced by the central bank last week provides that banks must have profited during the past five consecutive years before applying for operating licence.


Under old regulations, foreign banks were required to have 50 trillion VND (2.38 billion USD) in total assets and profited in the last three consecutive years only.


The new circular also regulates that banks must not be founder shareholders, strategic shareholders or founders of any Vietnamese credit institutions or local banks.


Specifically, regulations on the issue of bad debt under the old circular will be replaced by new requirements in terms of risk management and provision while bank names and headquarters also come under scrutiny.


The central bank said the new circular will help restrain unhealthy competition amongst banks on the domestic market and ensure that foreign banks have sufficient financial capabilities.


The issue of the new circular aimed at satisfying the banking system's administrative reform while enhancing the State role in managing foreign banking operations in Vietnam .


The circular will come into effect at the beginning of February next year.



http://www.vietfinancenews.com/2011/12/foreign-banks-face-asset-threshold.html#more



*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
Back to top Go down
View user profile
 
VIETNAM - Foreign banks face asset threshold
View previous topic View next topic Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
Dinar Daily :: OTHER INVESTMENTS :: OTHER CURRENCIES - DONG - ZIM - YUAN - etc-
Jump to: