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Guidebook for commercial banks launched

Jan 15th at 08:07
15-01-2016 08:07:04+07:00

Guidebook for commercial banks launched

The "Vietnam Guidebook For Banks" by Anne Molyneux, an advisor on corporate governance, was launched at the central bank's headquarters today.

The book reflects global practices for the management and reporting of transactions in banking. The practices come from countries such as Singapore, Malaysia, Italy, Ireland, Hong Kong, Australia, United Kingdom and Canada.

State Bank of Viet Nam (SBV) chief inspector Nguyen Huu Nghia said in a news release today that it was time for commercial banks to strictly obey such global routines, as certain mercenary transactions among related parties had weakened the domestic banking sector.

The book was sponsored by the SBV, the International Finance Corporation, Dutch development bank FMO, and Viet Nam-focused financial institution Dragon Capital.

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