Shin Dong Min, CEO of Shinhan Bank in Viet Nam (right), and Dang Tuyet Dung, a Visa country manager in Viet Nam and Laos, at the 2018 Global Service Quality awards ceremony. — VNA/VNS Photo The Shinhan Bank Viet Nam Limited was honoured to receive the 2018 Global Service Quality award from Visa for being the "Bank with the highest authorisation approval rate for commercial debit cards in 2018". Shinhan was the only bank in Southeast Asia to receive this prestigious award last year. The Global Service Quality awards given by Visa since 1992 recognise exceptional card operations performance by issuers, acquirers and processors around the world. Visa assesses its global clients by eligibility requirements and recognizes the highest-performing banks in each key area. To win one of the awards, banks must ensure they achieve a certain number of VisaNet processing transactions and maintain good operation performance with Visa. For the award for "Bank with the highest authorization … [Read more...] about Shinhan Bank wins 2018 Global Service Quality award from Visa
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Tax authority pilots online payment for vehicle registration fee
At present, the tax authority is waiting for legal bases and IT application from the Traffic Police Department for the experimental online payment for vehicle registration fee. It is scheduled that the e-payment for vehicle registration fee will be officially implemented by the end of 2019. The tax authority has provided online service for land taxation or accommodation business in 46 cities and provinces. So far, more than 57,000 accounts have been registered for e-tax payment. Moreover, around 80,000 e-customs declaration forms for land taxation have been completed in six commercial banks since the beginning of the year.BY CHE HAN - Translated by DAN THUY Tags: Tax authority online payment vehicle registration fee … [Read more...] about Tax authority pilots online payment for vehicle registration fee
Central bank warns credit institutions over rate hikes
The SBV says it will narrow banks' credit growth targets if the banks violate regulations (Photo: VNA) Hanoi (VNS/VNA) - The State Bank of Vietnam (SBV) said it will closely monitor interest rates offered by credit institutions and take measures to strictly handle violations of the law, including cutting credit growth targets. This is main part of the SBV’s new document on mobilisation interest rates of credit institutions. It was made as many commercial banks are racing to mobilise capital, luring customers with deposit interest rates of up to more than 9 percent or 10 percent per year. According to economist Nguyen Tri Hieu, the central bank’s move is a timely effort to stabilise the money market and interest rates. Hieu said commercial banks’ increase of deposit interest rates means demand for capital is rising to meet their credit growth targets. “In the current period, this increase is made up after the central bank issued regulation of reducing … [Read more...] about Central bank warns credit institutions over rate hikes
E procurement system applied to banks’ projects
In order to enhance competitiveness and transparency, two major lenders have begun using the Vietnam National E-Procurement System to bid online for construction and goods supply contracts for their projects. In the opening phase, the national competitive bidding (NCB) method will be conducted by the Asian Development Bank (ADB) and the World Bank (WB), along with relevant agencies in the country over 15 bidding packages worth more than $71 million in projects funded by the two banks. See the specific list of projects: Bid notices and invitation documents for online packages will also be posted on the Vietnam National E-Procurement System (VNEPS), and bidders will compile and submit their dossiers online. According to the ADB, when accessing online bidding, parties will have to post all information regarding their technical and financial capacity, the contracts that they are or have implemented, and on their equipment and human resources. All of the information will also be recorded … [Read more...] about E procurement system applied to banks’ projects
Banks warn against online transaction fraud
Banks warn against online transaction fraudThe Saigon Times Daily Customers are seen withdrawing money at an ATM in Hanoi. Local banks warn bank customers of possible online fraud during Tet - PHOTO: VNA HCMC – Local banks have issued warnings against online transaction fraud to their customers, since such trickery practices as stealing banking passwords when customers withdraw money at ATMs or make online payments are substantially common during the Tet Holiday, Nguoi Lao Dong Online reported. Asia Commercial Bank, commonly known as ACB, has sent warning notices via email to their customers, asking them to secure their banking personal information against swindlers. According to the bank, customers should stay highly vigilant against entering one-time passwords and usernames to their bank accounts on fake banking websites. There are several fake websites that pretend to be banks’ official ones or international money transfer channels to trick bank customers to … [Read more...] about Banks warn against online transaction fraud