Developing consumer finance as a solution to ward off shadow banking

12:32 | 13/03/2019
Against the booming of shadow banking groups in Vietnam, legal forms of consumer finance have also been thriving to meet diverse customer demand and reduce the bad consequences of shadow banking.
developing consumer finance as a solution to ward off shadow banking
VIR will host an online seminar on consumer finance and shadow banking on March 15

Consumer finance is one of the fastest-growing business sectors in Vietnam, as individual financial demands are rising. Consumer finance products are being perfected by the day and are distributed through growing networks across the country by dynamic banks and consumer finance companies.

However, in addition to formal consumer finance channels under the management of the state, shadow banking is booming and damaging socioeconomic development in several provinces.

In order to provide useful information to readers, VIR will organising its third consumer finance seminar with the theme of “Developing consumer finance as a solution to ward off shadow banking.”

Topics at the seminar include the current size of the Vietnamese consumer ­finance segment, how personal consumption can be financed by legal lenders, and regulatory updates to ensure ­transparency for borrowers and lenders.

The seminar will take place in the morning of March 15, 2019 at the headquarters of VIR at 47 Quan Thanh Street, Ba Dinh district, Hanoi.

Participants at the seminar will include:

  • Nguyen Dinh Cung, head of the Central Institute for Economic Management (CIEM);
  • Pham Minh Dien, deputy head of the Department of General Economics of the Party Central Committee's Economic Commission;
  • Nguyen Tu Anh, deputy head of the Monetary Policies Department at the State Bank of Vietnam;
  • Can Van Luc, economist;
  • Tran Minh Hai, manager of Basico lawyer firm;
  • Trinh Ba Viet Xo, Head of Business and Partnership Management of Home Credit Vietnam;
  • Nguyen Thanh Phuc, deputy general director of FE Credit;
  • Dang Tuyet Dung, Visa's country manager for Vietnam and Laos.

The seminar will be live-streamed on VIR’s websites and social media channels.

By Nguyen Huong

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