Press Release
Published May 30, 2016 | View complete press releases list |
Vietnam to resume short-term forex loans from June 1: central bank
Date: May 30, 2016
Categories: riskregulation, Risk and Regulation, Transaction Banking
Keywords: SBV, Short-term Loans, Foreign Currencies
Vietnam's central bank has allowed commercial banks to resume short-term loans in foreign currencies from next month to help businesses cope with recent adverse weather impacts and accelerate economic growth.
Banks will be permitted to extend these loans between June 1 and Dec.31, 2016 to assist production and exports, the State Bank of Vietnam said in a circular issued last Friday after its previous policy expired on March 31.
The policy took into account Vietnam's slower economic growth so far this year, drought and salination in the southern region and fish deaths in central provinces, the central bank said in a statement seen on Monday.
Re-disseminated by The Asian Banker
