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The central bank is seeking feedback on its draft circular that sets stricter conditions for real estate loans as a measure to mitigate speculation and risk of a bubble burst. If projects have not yet become legally eligible, there is a high possibility of customers and owners canceling the contract over the failure in acquiring needed permits. This will complicate commercial banks’ management of capital and potentially pose risks to the economy, the central bank argues. Le Hoang Chau, chairman of the Ho Chi Minh City Real Estate Association (HoREA), deemed the move "necessary", noting that loans are still allowed for projects that meet legal requirements. "The draft not only helps protect customers’ rights and benefits, but also build a healthier real estate market," Chau said. Tran Khanh Quang, director of property developer Viet An Hoa, estimated that around 20 percent of homebuyers pay their deposits with loans. The approval process for these loans have been tightened in … [Read more...] about No home loans against legally incomplete projects: central bank

SeaBank, BRG Group and Vietnam Airlines launch a co-branded credit card called SeATravel in Ha Noi. — Photo courtesy of SeaBank Joint Stock Commercial Bank Southeast Asia, BRG Group and Vietnam Airlines Corporation (Vietnam Airlines) have launched a co-branded credit card called SeATravel, with many premium privileges and incentives, including deals on aviation, resorts, golf and shopping. Customers who successfully issued a SeATravel card will receive 3,000 Lotusmiles bonus miles that can be used to redeem airline tickets and upgrade services, along with the privilege of discount airfares when purchasing on the Vietnam Airlines website, which offers a 40 per cent discount for economy class and 20 per cent for business class from June 15 to December 31, 2022. SeABank also offers many incentives for customers to shop and spend via SeATravel card, such as experiencing an 18-hole golf round at four golf courses - BRG Kings Island Golf Resort, BRG Legend Hill Golf Resort, BRG Rube … [Read more...] about SeABank, BRG, Vietnam Airlines launch SeATravel co-branded credit card

Việt Nam's small- and medium-sized enterprises (SMEs) need fintech services for development in the future. — Photo baochinhphu.vn HÀ NỘI — Việt Nam needs to develop financial technology (fintech) services for small- and medium-sized enterprises (SMEs), according to experts. "Existing innovative digital financial services for SMEs have not yet been systematically formed. Meanwhile, these enterprises always need more and more accessible financial services with low cost and a variety of products," said Bùi Huy Nhượng, vice rector of the National Economics University. Therefore, innovative financial services for SMEs need to be studied to develop not only for fintech startups but also for traditional financial institutions and technology companies. Dr Lương Thái Bảo, executive director of the Bachelor of Financial Technology Programme at the National Economics University, said that Việt Nam had a large number of SMEs, while it also has a high IT application index in the region. … [Read more...] about Việt Nam needs to develop fintech services for SMEs

Viet Nam's small- and medium-sized enterprises (SMEs) need fintech services for development in the future. — Photo baochinhphu.vn Viet Nam needs to develop financial technology (fintech) services for small- and medium-sized enterprises (SMEs), according to experts. "Existing innovative digital financial services for SMEs have not yet been systematically formed. Meanwhile, these enterprises always need more and more accessible financial services with low cost and a variety of products," said Bui Huy Nhuong, vice rector of the National Economics University. Therefore, innovative financial services for SMEs need to be studied to develop not only for fintech startups but also for traditional financial institutions and technology companies. Dr Luong Thai Bao, executive director of the Bachelor of Financial Technology Programme at the National Economics University, said that Viet Nam had a large number of SMEs, while it also has a high IT application index in the region. SMEs … [Read more...] about Viet Nam needs to develop fintech services for SMEs

Sacombank has added a new hotline number, 1800 5858 88, to promptly reply to questions and resolve problems customers have, and provide instructions on procedures and information about products and services. — Photo courtesy of the bank Sacombank has set up a new hotline number 1800 5858 88 in addition to the two existing ones, 1900 5555 88 (for all customers) and 1800 5858 23 (for VIP customers), to improve service quality in the context of digital transformation and the customer experience. It is a free number. Sacombank has also improved and added more features to its hotline to provide customers with a better experience such as quickly looking up their credit card balance, payment account balance, payment account number, and more without having to speak to an operator, and evaluating service quality after each call. 1900 5555 88 will stop operating on May 1, 2023, and all customer calls will be transferred to the new hotline. With a professional and dedicated team of … [Read more...] about Sacombank adds new hotline to improve customer service