Pilot mobile phone accounts will be used for payment, limiting cash transactions to prevent Covid-19 outbreaks

Tram Ho

On March 31, 2020, the State Bank of Vietnam issued Directive No. 02 / CT-NHNH on urgent solutions of the banking industry to strengthen prevention, control and overcome difficulties caused by the impact of epidemics. Covid-19.

Accordingly, many requirements are imposed on units at the Central State Bank. The highlight is to review and develop regulations on technology application to minimize direct transactions in the supply and use of banking products and services. Urgently coordinate with the ministries and branches in finalizing and submitting to the Prime Minister for promulgation a decision on the pilot implementation of using telecommunications accounts to pay for other small-value services (Mobile Money), instructions on promoting cashless payment in Vietnam.

Sắp thí điểm dùng tài khoản điện thoại để thanh toán, hạn chế giao dịch tiền mặt để phòng chống dịch Covid-19 - Ảnh 1.

According to Lawyer Pham Thanh Huu, TP Bar Association. Ho Chi Minh City, if early implementation of Mobile Money not only helps the prevention and control of the Covid-19 disease happened smoothly by limiting cash transactions but also ensuring convenience for people and safety in pay.

To direct credit institutions to concentrate credit on priority domains and production and business domains; regularly monitor and evaluate the evolution and impact of the Covid-19 epidemic on the ability of credit growth of thousands of hours to consider adjusting credit targets for credit institutions to fully meet timely mobilized capital for production and business, especially the sectors and fields affected by the Covid-19 epidemic, creating favorable conditions for borrowers to continue borrowing capital to restore production; continue to strictly control credit in potentially risky areas.

In particular, set out 10 important tasks for credit institutions, specifically as follows:

1. Seriously, drastically and effectively implement tasks and solutions to prevent and control Covid-19 epidemics, to support customers affected by Covid-19 epidemics. Closely follow up the next directions of the Governor of the State Bank of Vietnam, relevant levels and branches to update, supplement and organize the timely implementation.

2. Actively developing detailed business scenarios (including contingency business plans according to the evolution of the Covid-19 epidemic) in order to ensure uninterrupted business operations. Every situation. Develop a solution to provide banking services according to each scenario of the Covid-19 disease outbreak, in accordance with the Covid-19 disease prevention measures of the Government, the Prime Minister and local governments; At the same time, increase the supply of electronic banking services.

3. Urgently issue and implement internal regulations guiding the Circular No. 01/2020 of the State Bank of Vietnam. The Chairman of the Members’ Council / Board of Directors / General Directors of credit institutions shall directly guide the implementation of the restructuring of the term of repayment, exemption and reduction of interests and fees, keeping the debt group in place. new loans to customers who are facing difficulties due to the Covid-19 epidemic and are responsible to the Governor of the State Bank of Vietnam for implementation results. Strictly handling units, leading officials and professional staff who are slow to implement, intentionally causing difficulties, troubles, irresponsibility, improperly implementing them in the process of implementing difficult solutions. towel for customers.

4. Continuing to effectively implement solutions to expand credit for production and business sectors, priority areas, especially lending to maintain and restore the affected industries and fields. by the Covid-19 epidemic. Strictly control credit quality for potential risk areas.

5. Proactively reviewing and cutting operational expenses, especially salaries and bonuses, promptly adjusting business and financial plans to suit the reality before holding the general meeting of shareholders, In the immediate future, no cash dividend will be allocated to focus resources on sharply reducing lending interest rates on current loans and new loans.

According to Lawyer Pham Thanh Huu, TP Bar Association. Ho Chi Minh City, with immediate requirements not to pay cash dividends to focus resources to sharply reduce lending rates on current loans and new loans show the determination of the State Bank of Vietnam Nam in supporting businesses in particular and the people in general soon overcome difficulties caused by the Covid-19 epidemic.

6. Enhancing the management, administration and supervision capacity of the Board of Directors / Board of Members, the Executive Board and the Control Board for the activities of the credit institution. Strengthening the effectiveness of internal inspection and control, including focusing on inspecting and supervising the restructuring of debt payment schedule, exemption and reduction of interests and fees, and keeping the debt group under Circular No. 01/2020 to ensure proper implementation of policies; detect and resolutely promptly handle the abuse of policies to seek personal profits, reflect credit quality discrepancies. Weekly report to the State Bank of Vietnam on the results of implementation of support measures in accordance with Circular No. 01/2020.

7. Strengthening the coordination and sharing of information among credit institutions to ensure a high consensus in the implementation of solutions to remove difficulties for customers, especially the solution to maintain the debt group when restructuring loan repayment, exemption and reduction periods … Proactively and timely information about solutions, policies, programs, packages of support products for borrowers to know and coordinate proper implementation.

8. Promote non-cash payments; diversify suitable credit programs and products to support more actively with subjects and economic sectors; promoting administrative procedure reform, applying technology to limit direct transactions, creating favorable conditions to enhance access to credit for customers; continue to implement measures to prevent and control Covid-19 disease, remedies when officials are infected with Covid-19 disease, to ensure the operation of the banking system is safe, smooth and uninterrupted. guess.

9. Continue to participate and mobilize officials, staff and employees in the whole credit institution system to take timely social security forms to contribute their support to industries, fields and people. overcome consequences caused by Covid-19 disease.

10. Chairman of the Members’ Council / Board of Directors / General Director is fully responsible to the Governor of the State Bank of Vietnam for the effective and timely implementation of guidelines, policies and solutions. measures of the banking industry to prevent, overcome difficulties caused by the epidemic. The State Bank of Vietnam will resolutely deal with collectively and irresponsibly individuals, causing difficulties or delay in implementing or violating current regulations. At the same time, the State Bank of Vietnam will have mechanisms to encourage, reward and create favorable conditions for credit institutions to abide by this policy.

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Source : Genk