All banks permitted to act as guarantee for housing projects
09:45 | 07/07/2015 Finance - Banking
All local and foreign banks and branches are permitted to stand security for housing projects in Vietnam, according to a State Bank of Vietnam circular effective from July 1.
(Photo: SGGP/Financial Investment)
According to the July effective revised Housing Law, investors of housing projects must be guaranteed by banks to ensure customers’ rights.
The banks are responsible for refunding a guaranteed amount of money that house buyers have paid the investors in advance if their houses are not built and delivered on schedule.
The refund must be made a month after the house delivery date expires./.
Source: SGGP News
Theo ven.vn
Lastest news
- Banks eye post-pandemic business opportunities
- Pandemic accelerates Vietnam’s move to cashless payments
- ADB pledges financial help for Vietnam’s pandemic response
- Banks offer higher rates for online savings to draw clients amid COVID-19 battle
- Banks ease credit access to help pandemic-hit businesses
- HDBank executives register to buy large chunks of lender’s shares as pandemic drags down prices
- Banking sector to cash in on benefits from EVFTA
- Vietnamese banks cut short-term deposit rates
- Banks provide support for customers affected by Covid-19
- Mastercard helping accelerate financial inclusion in Southeast Asia
More news
- Vietnamese banks take measures to help coronavirus-hit businesses
- Vietnam’s stock market issues healthy outlook
- Many banks offer free services
- Amended Securities Law: Expanding market access for foreign investors
- Securities market forecast for 2020 bright
- Citi Vietnam named Best Bank 2019 by the Asset Magazine
- Twelve banks clear all bad debts at VAMC
- SBV takes credit for stability, record foreign reserves
- Customs and tax authorities try to make life easier for enterprises
- Current policies still leave SMEs thirsting for capital
