Việt Nam is in urgent need for inclusive finance as the demand for capital was increasing and the non-performing loan ratio at micro-financial institutions and social policy banks was much lower than other places, experts said. Facts, however, showed that access to banking and finance services was still limited in rural and remote areas. Võ Việt Hùng, director of the central bank’s Monetary and Financial Stabilisation Department, said management agencies should develop inclusive finance in line with financial stability. Phan Cử Nhân of the Việt Nam Bank for Social Policies’ International Integration Department said it was critical to provide training about how to use capital effectively along with promoting inclusive finance in Việt Nam. The State Bank of Việt Nam was in charge of developing a national strategy on financial inclusion.

Source: Viet Nam News October 02, 2017 01:07 UTC