All banks in the country have to adopt the standard version of Basel II and then switch to the advanced version by 2025. — Photo baokiemtoannhanuoc.vn In 2016 the State Bank set a deadline of January 1, 2020, for 17 banks to meet Basel II norms under a national banking sector development strategy. Also, by 2025 all banks in the country have to adopt the standard version of Basel II and then switch to the advanced version. Basel II is the second edition of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on banking supervision. It comprises minimum capital requirements, supervisory review and market discipline to enhance competition and transparency in the banking system and make banks more resistant to market changes. Basel II requires banks to have a capital adequacy ratio (CAR) of at least 8 per cent. However, the SBV has allowed 10 banks to adopt Basel II standards earlier than the 2020 deadline. They are Joint Stock … [Read more...] about Basel II deadline rapidly approaching, are banks on course to meet norms?
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A corner of Ho Chi Minh City - Illustration photo The information was released at a press conference on October 8 in Ho Chi Minh City about the upcoming organization of the HEF2019. The forum heads to orient and establish the master plan to develop Ho Chi Minh City into the financial center of the region and the world. The plan is set up by the Ho Chi Minh City Financial Investment Company and Fulbright University. The forum is expected to attract the participation of more than 800 delegates who are leaders of the Government, ministries, representatives of diplomatic agencies, leaders of the World Bank, the International Monetary Fund and the Asian Development Bank and businessmen. The economy of Ho Chi Minh City increased by 7.81% in the first nine months of 2019, according to official figures announced at a meeting of the municipal Party Committee. The city’s exports brought in more than US$31 billion, up 10.5% while its tax revenues reached … [Read more...] about Ho Chi Minh City Economic Forum 2019 to be held
Nguyen Duy Linh, deputy managing director of retail brokerage, SSI, receives Asiamoney Best Southeast Asia Securities House Awards for "Best Securities House in Vietnam” and “Best Corporate & Investment Bank” from Asiamoney on behalf of his company. (Photo courtesy of SSI) HCM City (VNS/VNA) - SSI Securities Corporation received two Asiamoney Best Southeast Asia Securities House Awards from Asiamoney, a leading finance and investment magazine in the Asia-Pacific, at a ceremony in Singapore this week. They were for "Best Securities House in Vietnam” and “Best Corporate & Investment Bank.” It was the third time the company has won the "Best Securities House in Vietnam”. SSI has been the leader in securities broking on the Ho Chi Minh Stock Exchange (HoSE) for the last five years. In the second quarter of this year it continued to be largest player on both HoSE and the Hanoi Stock Exchange, with market shares … [Read more...] about SSI wins Asiamoney Best Southeast Asia Securities House Awards
Illustrative image (Source: baodautu.vn) Hanoi (VNS/VNA) - Vietnam needs to renew its real estate market to attract more foreign investors and increase the quality of foreign direct investment (FDI) in the sector, according to experts. Director of Jones Lang LaSalle (JLL) Vietnam Dang Van Quang said regulatory reforms will help improve transparency, making Vietnam's real estate market more attractive to foreign investors. This is because finding available land areas for investment will be a challenge for developers and investors next year, he said. Authorities need to continue reforms of administrative procedures to support foreign investors pouring capital to Vietnam, according to experts. With the Government's efforts in proposing, issuing and implementing policies to encourage investment as well as improving the legal framework, investment in Vietnam's real estate market is expected to grow in all segments, especially in FDI capital. "The growth is expected to happen in all … [Read more...] about Vietnam needs to renew property market to lure more foreign capital
1. We, the Foreign Ministers of the Association of Southeast Asian Nations (ASEAN), met on 31 July 2019 at the 52nd ASEAN Foreign Ministers’ Meeting (AMM) in Bangkok. We underlined the need to further strengthen cooperation and advance our partnership to ensure sustainability in all dimensions for ASEAN amidst the rapid changes in Southeast Asia and beyond. ASEAN COMMUNITY-BUILDING 2. We reaffirmed our commitment to the full and effective implementation of the ASEAN Community Vision 2025 and the ASEAN Leaders’ Vision Statement on Partnership for Sustainability. We reaffirmed the importance of maintaining ASEAN centrality and unity in our community-building efforts, engagement with external partners and regional architecture. We commended the ongoing work of all ASEAN Sectoral Bodies and Organs for progress in the implementation of the ASEAN Political-Security Community (APSC), ASEAN Economic Community (AEC), and ASEAN Socio-Cultural Community (ASCC) … [Read more...] about Joint Communique of 52nd ASEAN Foreign Ministers’ Meeting