The Hanoitimes - The State Bank of Vietnam (SBV) and credit institutions should improve inspections, monitoring, recruitment and promotions and dismiss all wrongdoers in order to develop and implement a transparent banking mechanism.
The Hanoitimes - The State Bank of Vietnam (SBV) and credit institutions should improve inspections, monitoring, recruitment and promotions and dismiss all wrongdoers in order to develop and implement a transparent banking mechanism. This statement was made by Nguyen Xuan Phuc, Politburo Member, Deputy Prime Minister and Deputy Head of the Central Steering Committee for Anti-corruption, during a symposium on preventing faults and corruption in the banking and credit system held by the Office of the Central Steering Committee for Anti-corruption (OSCAC) on November 30 in the Ho Chi Minh City . Deputy PM Phuc also urged the SBV to submit a plan for restructuring the banking system to the Government as soon as possible. The SBV and commercial banks should enhance co-operation with law enforcement agencies to prevent and combat banking-related crime, he added. The SBV Governor Nguyen Van Binh said that commercial banks will establish a VND15-20 billion fund for rewarding whistleblowers. The SBV and the Ministry of Public Security will also issue a joint circular regarding their close co-ordination at all levels. Meanwhile, the OSCAC appealed to the banking sector to prosecute corruption cases strictly, review the cash flow management mechanism and minimise market manipulation. ATP |