In addition to provisions on handling bad debts, preventing cross-ownership, and prohibiting the bundling of non-mandatory insurance sales with the provision of banking products and services, the recently passed amended Law on Credit Institutions also introduces several other notable changes, including:

+  Provisions on early intervention for weak credit institutions;

+  Gradual reduction of credit limits in stages;

+  Allowing the transfer of assets that are real estate projects for debt recovery;

+  Requiring credit institutions to obtain, at a minimum, information on the lawful purpose of the loan and the customer’s financial capacity before deciding to grant credit for small-value loans..

Mr. Nguyen Quang Huan, National Assembly Deputy from Binh Duong Province, shares his views on issues discussed in the National Assembly’s agenda with voters.

Source: The National Assembly and Voters