Senior lawmaker urges healthy banking system | Company

National Assembly Speaker Vuong Dinh Hue speaks at the NA (Photo: VNA)

Hanoi (VNA) – National Assembly Speaker Vuong Dinh Hue called for a healthy banking system in which domestic lenders act as key players and operate in a sound, efficient and transparent manner when evaluating the responses of State Bank Governor Nguyen Thi Hong during the Q&A session of the 15th AN in Hanoi on June 9.

Vietnamese lenders must adhere to banking and security standards and adopt international practices, Hue said, noting that Vietnam plans to enter the top four ASEAN countries in banking development by 2025. He said also emphasized the need to pay attention to the formulation, approval and implementation of a project. on the restructuring of poorly performing banks with the aim of completing the project by the end of 2025.

Hue called on the government, the State Bank of Vietnam (SBV) and ministries to actively, flexibly and comprehensively employ monetary tools and policies; and combine them with fiscal and macroeconomic policies to control inflation, stabilize the macroeconomy, support economic recovery, and respond quickly to fluctuations in international and local markets.

The supreme legislator has also required lenders to reduce operating costs and interest rates, while regulators must review and amend related legal documents to improve the legal framework on monetary issues, foreign exchange governance and banking operations, thus guaranteeing the security of credit institutions.

It is essential to increase the financial capacity of lendersprovide additional equity to public banks and prevent cross-investment, cross-ownership and manipulation of ownership, he said.

The NA President also asked the SBV to intensify the inspection and supervision of credit institutions, study the use of cryptocurrency, promote financial technologies (fintech) in the banking sector and ensure information security for the banking system.

He further suggested the development and modification of regulations relating to sales and purchases of corporate bonds, saying that there must be stricter requirements on the management standards of lenders when operating in the market. corporate bonds in order to create a healthy financial market.

He also demanded that regulators closely monitor credit growth in high-risk areas, such as real estate, securities and corporate bonds, and strengthen digital banking governance to quickly detect breaches. ./.

Comments are closed.