Bold new approach for digital banking (source: freepik.com) By Vu Thanh Minh and Ha Thanh An Lawyers, LNT & Partners In addition to a number of notable changes relating to opening bank accounts, long-awaited reform via Circular 16 is the detailed regulation on opening individual payment accounts at credit institutions by electronic know-your-customer (eKYC). This is the first legal instrument that provides detailed guidance on its implementation. The system is used to verify customer’s identity against the declared information in compliance with applicable laws and regulations, with support from video call and AI technologies such as face-matching for photos on ID card, or optical character recognition to read and extract information, instantly comparing personal information with a centralised database of user identity. Thus, bank account opening and customer onboarding become much easier, as customers do not need to go to a branch to open a bank account. In the past, under Decree No.116/2013/ND-CP guiding the Law on Anti-money Laundering and the aforementioned Circular 23, the first meeting between the bank and client must be face-to-face if the latter wishes to open a bank account. However, reflecting the development of 4.0 technology, in November 2019 the government issued Decree No.87/2019/ND-CP detailing the implementation of a number of articles of the Law on Anti-money Laundering, of which Article 8.2 stated that the bank can “decide whether to meet the client in person when the relationship is first established”. These developments are now mirrored in Circular 16, thereby allowing commercial banks to decide whether to meet clients in person when the latter wishes to open a bank account, and to decide which methods, forms and technologies it wishes to use to identify and verify a client. However, the SBV also requires banks to adopt necessary technologies and procedures for risk management, and adequately store and manage information/data …
Sound leadership
Joint efforts to preserve Cham culture
Thien Thanh Vu (1990), who is one of four Cham artisans working for the art troupe in the Department, has played many kinds of traditional musical instruments of Cham ethnic group. Vu was born into a family with three generations of crafting and playing Cham musical instruments, in Ninh Phuoc District, Ninh Thuan Province. Since he was just 12 years old, Vu has studied the methods to craft and play traditional instruments. Now he can fluently plays many kinds of instruments, such as paranung drum, saranai flute and kanhi lute. In particular, saranai flute, an indispensable instrument for performances. It used to be made of buffalo horn or elephant bone and ivory. However, Cham ethnic people now make the flute from the duramen of an old taramind trees. The structure of a saranai flute symbolises a human body with three parts: head, body and leg. The seven notes on the flute are like seven parts in a face. The way of playing the instrument is also different. The artisans often blow a long breath from five to 30 minutes according to each piece of music. Therefore, it took many years for artisans to learn the way to blow, take and keep their breaths so that the sound will not be broken. Vu learnt the method to take his breath for two years and took five years to learn how to use the instrument proficiently. The traditional folk musical instruments are used only during the major festivals of Cham ethnic people such as the tower opening ceremony and Kate festival. The ethnic people possess 72 piece of music, each of which is dedicated to a god and is also suitable for a festival. Vu’s father, artisan Thien Sanh Them, has performed in many localities. He is knowledgeable about traditional music and instruments as well as always being willing to learn new things from others. The artisan taught his son to play the traditional instruments right at home. Vu now succeeds his father as well as continues to learn and manufacture the instruments to promote his homeland’s …
Việt Nam issues new national strategy on gender equality
A music performance was held on Saturday to celebrate the International Women’s Day. — VNA/VNS Photo HÀ NỘI — Việt Nam expects to see women holding key leadership positions in 60 per cent of state management agencies and local administrations at all levels by 2025 and 75 per cent by 2030. The target was set in the National Strategy on Gender Equality for the 2021-30 period recently adopted by the government. The strategy also defined a number of new goals for the country to further make progress in gender equality in various areas and fulfil its Sustainable Development Goals (SDGs) by 2030. The number of paid women employees in Việt Nam will increase to 50 per cent by 2025 and around 60 per cent by 2030, while the percentage of women working in the agriculture sector among all employed women will decline to below 30 per cent by 2025 and less than 25 per cent by 2030. The rate of female directors or owners of businesses is expected to reach at least 27 per cent by 2025 and 30 per cent by 2030. The country also aims to reduce the average time women spend doing unpaid housework by 1.7 times by 2025 and 1.4 times by 2030 compared to that of men. By 2025, 80 per cent of women suffering from domestic and gender-based violence will be given access to at least one of basic support services, and the figure is expected to reach 90 per cent by 2030. The sex ratio at birth will be 111 boys per 100 girls by 2025 and 109 boys per 100 girls by 2030. The maternal mortality rate will drop to 42 per 100,000 live births by 2025 and below 42 per 100,000 live births by 2030. Gender and gender equality are planned to be integrated into curriculums at schools and pedagogical universities from 2025. The country will hold a month-long campaign for the promotion of gender equality and gender-based violence prevention and response from November 15 to December 15 every year. Campaign for "women's smile" launched The Vietnam Women’s Union, the Institute for …
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