Seminar on the revised Law on Credit Institutions: Effective allocation of resources

On January 18, 2024, at the 5th extraordinary session, the Law on Credit Institutions (amended) was passed by the National Assembly.

The amended Law on Credit Institutions 2024 adds many new regulations to (1) prevent cross-ownership and bank manipulation; (2) limit credit concentration for one customer and one group of customers; (3) strengthening risk management, early intervention in credit institutions with problems and (4) handling bad debts and collateral for bad debts in the direction of legislating a number of regulations in the Resolution 42/2017/QH14 on piloting bad debt handling of credit institutions.

The law takes effect from July 1, 2024; Clause 3, Article 200 and Clause 15, Article 210 take effect from January 1, 2025. These two provisions are both related to the transfer of real estate projects as collateral for recovery from bad debts…

To promptly inform the market about the impacts of the amended Law on Credit Institutions 2024, Vietnam Economic Magazine/VnEconomy organized a discussion: “Amended Law on Credit Institutions: Effective allocation of resources” with the participation of guests:

– Dr. Nguyen Quoc Hung, Vice President and General Secretary of Vietnam Banking Association;

– Lawyer Truong Thanh Duc, Director of ANVI Law Firm;

– Mr. Vu Viet Hung, Deputy Head of Legal Department, Vietnam Bank for Agriculture and Rural Development (Agribank).

Journalist Phan Linh, Finance – Banking Department, Vietnam Economic Magazine/VnEconomy will moderate the discussion.

At the discussion, experts proposed many solutions to effectively implement new regulations in the amended Law on Credit Institutions 2024.

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